What It Does: Standard Chartered offers corporate and institutional banking, commercial or transaction banking, risk & liquidity management, private banking & asset management, corporate finance, investment banking, issuance of credit cards, and mortgage loans to its clientele.
Mission: Standard Chartered’s mission is to advance commerce and prosperity through its unique diversity, together with its brand promise.
Size and Presence: SC employs more than 2,000 workers in the UK. The bank has no branch in the UK, but its global headquarters is situated in London.
Best Known For: SC is one of the top financial institutions in the world with a strong global presence. The bank has a vast service catalogue and has won several awards. SC is also one of the largest banks in the UK.
The Good Bits: SC has a competitive and productive working atmosphere. The bank offers several incentives in addition to basic compensation to motivate its workers. The bank has a good working culture.
The Not-So-Good Bits: The work can become monotonous at some point.
SC came into existence thanks to the merger deal between Chartered Bank and Standard Bank in 1969. The newly created company adopted the names of its parent organisations. In 1987, SC sold its remaining interests to Standard Bank. In 1997, SC sold Mocatta Bullion and Base Metals to Scotiabank for $26 million (£21,4 million). The bank shut down its investment management operations in Asia three years later. In 2000, SC purchased Grindlays Bank, a very strategic acquisition that served two purposes- expanding the bank's operations in India and Pakistan and breaking into the private banking market. In 2005, SC purchased Korea First Bank and renamed the bank’s branches SC First Bank.
The following year, SC bought 81% of the stake in Union Bank of Pakistan, which was worth $511 million (£424.5 million). This deal made SC the first foreign buyer of a Pakistani bank, and SC Pakistan eventually became the 6th largest bank in the country. In 2007, SC opened its global headquarters for private banking in Singapore. 2010 was a momentous year for SC as the bank was named by The Banker as Global Banker of the Year. SC has also made strides in Fintech. SC has a global workforce of 85,000 employees across 59 countries in the world.
SC's culture is founded on three core values, namely, Do the Right Thing, Never Settle, and Better Together. These values define the organisational code of conduct which entails a high sense of professionalism and ethical behaviour, a collaborative spirit, and attaining the highest standards of excellence. SC is all about diversity and inclusion, which it consciously champions to ensure that none of its employees is marginalised or out of place. At SC, you’ll see talents from different cultural backgrounds being cordial with each other and working towards a common goal. The company’s dress code is business professional. SC has a thriving support system which is very beneficial to freshers and interns.
SC recognises the importance of discovering and nurturing the future generation of the banking industry. The company’s apprenticeship programme is a great opportunity for school leavers who dropped formal education to earn while learning. The program will expose them to an immersive and rich learning experience via targeted virtual learning and skills workshops. The company’s summer internship programme allows interns to work on real tasks and build expertise and employment experience. The graduate programme is 12 months of technical and professional skills training, development workshops, and real-life problem-solving, among other perks. SC equips its employees with everything they need to thrive and succeed in the industry.
A fresh graduate working at Standard Chartered will earn an average salary of £35,000 yearly.
SC aims to reduce carbon emissions linked with its financing via the execution of its net zero roadmaps.
Though SC has been involved in multiple controversies, none of them has been widely published.