Standard Chartered weighs Bangladesh retail banking exit

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Standard Chartered is exploring the sale of its Wealth and Retail Banking (WRB) business in Bangladesh as the international lender moves to sharpen its focus on corporate and investment banking, particularly cross-border trade, capital flows and infrastructure financing.

The bank said on Thursday that the proposed sale would have no immediate impact on retail customers or employees, with operations continuing as usual while the transaction goes through the regulatory and deal process.

The transition, subject to regulatory approvals, is expected to take around 18 to 24 months, according to Enamul Huque, chief executive officer of Standard Chartered Bangladesh.

“Bangladesh remains a vital pillar of our global network and our commitment to driving its long-term economic growth is as strong as ever,” Enamul said.

He said the bank was sharpening its strategic focus on areas where its global footprint could create the greatest impact, “particularly international trade, cross-border capital flows and infrastructure financing.”