Standard Chartered Bank (SCB) Bangladesh- An overview

Established in 1905 (including ANZ Grindlays experience; Standard Chartered Bank originally established its first branch in Chittagong in 1948) SCB is the oldest and largest foreign bank in Bangladesh

SCB is the only bank that never closed its doors over 100 years of banking operation in the country First international bank to extend credit lines to Bangladesh and open the first external letter of credit (LC) in Bangladesh in 1972 Financial Institutions business is the largest contributor to USD Clearing in New York A leading price player in treasury instruments and foreign currencies Leader and pioneer in Consumer Banking

Today, SCB is the largest international bank in Bangladesh with 25 Branches and 57 ATMs; employing over 1,300 people. SCB is the only foreign bank in the country with presence in 6 cities Dhaka, Chittagong, Khulna, Sylhet, Bogra and Narayanganj. The acquisitions of Grindlays bank (in 2000) and the commercial banking business of American Express Bank in Bangladesh (in 2006) are reflections of the Banks increasing commitment to Bangladesh. The bank increasingly invested in people, technology and premises as its business grew in relation to the country's thriving economy. We currently provide both Consumer Banking and Wholesale Banking Services, ranging from Personal & Corporate Banking to Institutional Banking, Treasury and Custodial services. Extensive knowledge of the market and essential expertise in a wide range of financial services underline our strength to build business opportunities for corporate and institutional clients in Bangladesh. Continuous upgrading of technology and control systems has enabled the bank to offer new and improved services such as Phonebanking, I-banking, e-Lending.

Recent achievements and accolades

First commodity derivatives in Bangladesh and cotton hedge for the Group for Square Textiles Enhancement of Microfinance: BRAC, BURO, Shakti Best Bank for Corporate Social Responsibility for 2006 by Bankers Forum Best Retail Bank in Bangladesh award in The Asian Banker Excellence in Retail Financial Services programme for its performance in 2007 National Best Corporate Award 2007 by Institute of Cost Management Accountants "Best IT Use Award 2007" by Bangladesh Association of Software & Information Services (BASIS) Best Employer of IBA Graduates in 2008 by IBA Alumni Association

Principles and values

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Principles
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term that is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs over 75,000 people, nearly half of whom are women, The Group's employees are of 125 nationalities, of which about 70 are represented among senior management

SCB Values
Courageous We stand up for what we believe to be right. We accept accountability and take calculated risks.

Responsive: We listen to our customers and colleagues and build strong relationships based on mutual respect. We work quickly, thoughtfully and effectively to deliver the best solution.

International We value our diversity. We share standards and best practice. We work together, as one team across the Bank, for the benefit of our customers.

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Creative We are innovative and imaginative in working with opportunities and challenges. We continuously improve the way we work, making it simpler, better and faster. Trustworthy We do what is best for the Bank and our customers. We deliver on our promises and work to high standards. We are reliable, open and honest.

Physical Design
The head office is located in Gulshan in the company owned building and its exterior is decorated with SCB color (blue and green). From time to time the exterior of the building is decorated with its current theme and initiatives (e.g. seeing is believing, Living with HIV etc.) The office has adopted a very open sitting arrangement which reflects its culture of openness and transparency. The executives and mangers sit in open work stations. Only the management committee members (i.e., the top seven executives out of 1,300) have separate glass rooms, which are visible from outside. The general group policy is that no one except the CEO shall have separate room. However as the local corporate culture assumes that senior manager are expected to have a separate room, we have made this exception.

Symbols/Brand
Everything the employees do at Standard Chartered - be it talk to a customer, create a product, write a program, help a colleague, support a community, contribute to the regulatory environment - adds up to sending a consistent message to the world: that Standard Chartered is Leading by Example to be The Right Partner. This is SCBs brand promise. SCBs aspiration is to double the brand value by 2011. When customers and clients think of a financial institution, we want them to think of Standard Chartered.

Brand overview
Defines what we as an organisation stand for - our 'DNA' (the double helix model) Represents our distinctive proposition in the hearts and minds of customers, staff and stakeholders Is a means of simplifying the complex Is an asset that creates value and enhances reputation.

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Brand Aspiration:
To be known for our promise to Lead by Example to be The Right Partner' To be a top 3 bank brand in our markets / segments To be a top 15 financial services brand globally To be employer of choice in our markets

Brand Belief:
It's SCBs new brand promise. It is the reiteration and confirmation of SCBs existence for last 150 years and promise to be the right partner of its customer. To be here for people. Here for progress. Here for the long run. Here for good.

Words
Bank follows a very formal, standardized and process driven structure in external communication. Since Bangladesh banking sector is very much regulated by the central bank and globally SCB is a listed company, all the employees are advised to maintain caution, prudence and, if necessary, seek guidance from senior manager for any sort of external and regulatory communication. Internal communication is semi formal. Any sort of credit approval is sought through banks internal software. Other internal communication is done through formal email. However, for knowledge sharing, career advisory purpose, employees are encouraged to communicate freely and informally with supervisors /colleagues/HR Managers. Bank in general has a flat hierarchical structure. There are five lines of management from CEO to the entry level executes.

Policies & Activities

Being a Bank, this organization has a very well written down policy regarding its operational activities. Its policy for its employees can be found in the local web site of the company. Staff Loan , leave policy, provident fund policy are open for all employees. Financial and non financial rewards are there to encourage people for better performance. Ceremonies like Town Hall meeting are organized from time to time to convey managements message and reward employees for their extra ordinary performance. SCB is a performance driven organization. It does not have any fixed bonus system (not even festival bonus). Annual bonus depends on the performance (evaluated in terms of revenue achieved against set objectives or other quantitative terms) as well as employees ability to live upto SCBs core 5 values. At the same time Standard chartered in Bangladesh is engaged in different activities aimed at improving the quality of life of underprivileged citizens:

Seeing is Believing A New Vision aims to raise USD 20 million to develop comprehensive, sustainable eye care for 20 million people in less advantaged areas of 20 cities across the world, including Dhaka. Under this project, Standard Chartered has committed USD 1 million over between 2008 and 2013 to Dhaka

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Urban Comprehensive Eye Care project that will serve over 270,000 visually impaired people. Bangladesh is the flagship country for the Seeing is Believing initiative where SCB has built an Operation Theatre and Childrens Ward at Islamia Eye Hospital to provide cataract surgery to at least 12,000 patients per annum. Living with HIV Standard Chartered Bangladesh organized six seminars titled Confronting AIDS Challenge in the 21st Century: The student Community to educate over 1,000 students from six different universities in Dhaka to spread awareness about HIV /AIDS amongst the younger generation. SCB jointly initiated the 'Standard Chartered-Financial Express Corporate Social Responsibility Award' in 2006. The third Standard Chartered-Financial Express CSR award saw Rahimafrooz Bangladesh and Viyellatex Group win awards for their outstanding contribution to society and Rahman Knit Garments Ltd win an award in special category. The purpose is to promote CSR amongst businesses and recognize outstanding contributions in the field of CSR in Bangladesh. Standard Chartered The Daily Star Celebrating Life Contest; a film, photography and lyrics contest, which received over 8,000 lyrics, 6,500 photographs and nearly 100 films as entries. This contest was designed to encourage people of all ages across the country to participate and in the process know more about Bangladesh and project a positive image of Bangladesh in the international arena. Standard Chartered Young Tigers U -16 National Cricket Tournament has become the platform for hunting young cricketing talents from all over Bangladesh. In 2008, 464 schools from all 64 districts participated in the tournament, which saw 852 matches in 72 venues across Bangladesh. 11th Standard Chartered Bank National School Chess Tournament saw 263 youngsters including 12 from India and 4 from Nepal participate in this annual event, in partnership with Bangladesh Chess Federation. Standard Chartered Bangladesh is also the proud sponsor of Young Learners Club of The British Council for the last 10 years, the diverse contests and programmes organised by Young Learners Club facilitate children not only to recognise their hidden talent but also to nurture them. Standard Chartered provides financial support for the education programme of National Fellowship for the Advancement of the Visually Handicapped (NFAVH) to facilitate necessary educational materials for the visually impaired for last five years.

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