Standard Chartered Bank on Friday opened its private banking centre in Chennai- the fifth private banking centre of the bank after Bengaluru, Delhi, Kolkata and Mumbai. The private banking service is designed for high net worth and ultra high net worth (UHNW) clients offering products, advisory and insights to manage, grow, and protect wealth.
Additionally, the bank’s private banking clients get access to a suite of unique investment, wealth and banking solutions. It also supports them with a team of a private banker, service manager, and an investment specialist with access to a full spectrum of solutions for every stage of their business and personal wealth growth.
Nitin Chengappa, MD and head, affluent, private bank and branch network, Standard Chartered Bank, India, said, “Being one of the oldest global banks in India, we have relationships across multi-generations and therefore we can focus both on a traditional approach while offering bespoke, objective and holistic advice supported by open architecture platform. We are excited to open our new private banking centre in Chennai. Tamil Nadu is a major economic and financial centre, and we see a lot of potential for growth in our private banking business in this region.”
Standard Chartered Bank has been operating in India with a presence of over 160 years making it one of the oldest foreign banks in the country. The bank has a network of 100 branches across 42 cities.
Pankaj Walia, head of private banking, Standard Chartered Bank, India, said, “India’s UHNW population is growing rapidly, and there is a huge opportunity in this space. The country’s start-up culture, supported by strong GDP growth and new capital, is creating a new group of billionaires. The bank recognises the clients’ diverse wealth management needs and hence, brings access to a full spectrum of end-to-end financial solutions, as a global universal bank, for every stage of the clients personal and business journey.