Standard Chartered Grindlays Bank Limited will cease business by year end, following a two-year long integration period, during which time most of Grindlays customer base transferred their business to the Standard Chartered Bank network.
The Grindlays acquisition will bring more customers, a greater branch network and a sophisticated technology platform to the Standard Chartered Bank network in the UAE.
Ray Ferguson, Standard Chartered Bank's Chief Executive Officer, UAE, said: "This highly successful acquisition has provided us with some fantastic synergies. We are at the end of a two-year long integration, and this process has been completed with minimal disruption to our customers.
"We have made the integration as smooth as possible, and we are now looking forward to heading up what is clearly a fabulous franchise platform for growth."
Remaining Standard Chartered Grindlays customers are encouraged to visit the nearest Standard Chartered Bank branch or call the free customer service line on 8004949 for answers to any queries.
Commenting on the move, Ferguson added: "The expertise and advice of the Central Bank greatly facilitated the integration."
The integration of the two banks will eventually lead to an 11-strong branch network. At present, Standard Chartered Bank has seven branches in the UAE.
The Grindlays integration has already taken place in India and Pakistan, while the rest of the Middle East and South Asia region, Bangladesh, Bahrain, Jordan, UAE and Sri Lanka, will complete the legal requirements by year end.
Next year also marks the 150th anniversary of the Standard Chartered Bank Group, and a major re-branding exercise will be completed in early 2003.
ends
Browse
related articles
Standard Chartered completes Grindlays integration
- United Arab Emirates: Saturday, December 21 - 2002 at 15:07
- PRESS RELEASE
Related content
Standard Chartered Bank will complete the acquisition of the banking business of Standard Chartered Grindlays Bank in the UAE on December 31st, 2002.
Article Options
Log in to request more information from Standard Chartered Bank (SCB)
Posted by Anne-Birte Stensgaard, News EditorSaturday, December 21 - 2002 at 15:07 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun Sep 24 2006.
Notes and Media Contacts »
Standard Chartered in the UAE
In the UAE, Standard Chartered has a Consumer Banking network comprising seven branches and 22 automated teller machines (ATMs). Standard Chartered is the leading provider of cash management trade finance, and treasury products and services in the UAE.
Standard Chartered
- The world's leading emerging markets bank
Standard Chartered is the world's leading emerging markets bank. It employs nearly 30,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas.
The Bank serves both consumer and wholesale banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small/medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets.
With nearly 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets.
Standard Chartered recognises its responsibilities to its staff and to the communities in which it operates.
For further information please contact:
Aida Hamza, Head of Corporate Affairs, Standard Chartered Bank, UAE
Telephone +971 4 5088200
Fax +971 4 5088241
For press information contact:
Will Rankin, MCS/Action, PO Box 20970, Dubai, UAE. Tel: +971 4 3902960 Fax: +971 4 3908161
In the UAE, Standard Chartered has a Consumer Banking network comprising seven branches and 22 automated teller machines (ATMs). Standard Chartered is the leading provider of cash management trade finance, and treasury products and services in the UAE.
Standard Chartered
- The world's leading emerging markets bank
Standard Chartered is the world's leading emerging markets bank. It employs nearly 30,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas.
The Bank serves both consumer and wholesale banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small/medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets.
With nearly 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets.
Standard Chartered recognises its responsibilities to its staff and to the communities in which it operates.
For further information please contact:
Aida Hamza, Head of Corporate Affairs, Standard Chartered Bank, UAE
Telephone +971 4 5088200
Fax +971 4 5088241
For press information contact:
Will Rankin, MCS/Action, PO Box 20970, Dubai, UAE. Tel: +971 4 3902960 Fax: +971 4 3908161
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
