Standard Chartered's Bold Move: $200 Billion Target as Bank Expands Beyond Metros

Standard Chartered Bank is set for a major expansion in India, targeting USD200 billion in net new money over the next five years. The bank is looking beyond the top six metros, focusing on cities like Ahmedabad, Bhubaneswar, Chandigarh, and Jaipur. To support this growth, Standard Chartered plans to increase its relationship manager team by 50% by 2028, adding 120 new managers in the coming year. This strategic move aims to tap into the growing affluent segment in smaller cities, offering upgraded services and new products for high-net-worth individuals.
Sources: Standard Chartered Press Release, Times of India