Standard Chartered Bank (India)

stanchart bankOverview:
The Chartered Bank opened its first overseas branch in India, at Kolkata, on 12 April 1858. Eight years later the Kolkata agent described the Bank’s credit locally as splendid and its business as flourishing, particularly the substantial turnover in rice bills with the leading Arab firms. When The Chartered Bank first established itself in India, Kolkata was the most important commercial city, and was the centre of the jute and indigo trades. With the growth of the cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Kolkata as India’s main trade centre. Today the Bank’s branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Kolkata remaining an important trading and banking centre. At the core of the Group’s people strategy is our focus on employee engagement. Engagement is a key driver of productivity and performance, which creates the foundation of our performance culture. We encourage and focus on the behaviours that bring out the very best from every employee, assessing their performance not just on results but on how those results were achieved. To further embed these behaviours the bank has a remuneration programme in place, carefully designed to incentivise our employees to live our values every day. We have always taken a view that our remuneration policies should support and drive our business strategy and reinforce our values. We believe these are sound and aligned to external best practice standards with risk-based and robust governance structures. Our annual performance bonuses are discretionary and are delivered in a combination of cash and deferred shares. They are set with regard to an assessment of risk and other factors such as achievement of our management agenda, risk management and economic backdrop, as well as profit.

Recruitment Procedure:
The bank offers internship as well as graduate hire progremmes. The selection process is as follows:
Step 1: Online application form
Step 2: Online ability tests and questions
Step 3: First assessment
Step 4: Final interview and assessments

The Chartered Bank

The Chartered Bank was founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853.The bank opened in Mumbai (Bombay), Kolkata and Shanghai in 1858, followed by Hong Kong and Singapore in 1859.  The traditional trade was in cotton from Mumbai, indigo and tea from Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra, hemp from Manila and silk from Yokohama.

The bank played a major role in the development of trade with the East following the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871.

In 1957 Chartered Bank bought the Eastern Bank, together with the Ionian Bank’s Cyprus Branches and established a presence in the Gulf.

The Standard Bank

The Standard Bank was founded in London in 1862 by John Paterson from the Cape Colony in South Africa, and started business in Port Elizabeth in the following year.

The bank was prominent in financing the development of the diamond fields of Kimberley from the 1870s. It later extended its network further north to the new town of Johannesburg when gold was discovered there in 1886.

The bank expanded in Southern, Central and Eastern Africa and had 600 offices by 1953.

In 1965, it merged with the Bank of West Africa, expanding its operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.  In 1987 Standard Chartered Bank sold its stake in the Standard Bank, which now operates as a separate entity.

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