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July 30, 2009

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Home » Business » Finance

Demand spurs bank growth

STANDARD Chartered Bank expects its financial markets segment to maintain an annual double-digit growth in China in five years on rising demand from corporations, senior bankers said.

"China is a very central part of our strategy and we see big opportunities to grow in China," said David Carr, the bank's managing director and global head of sales of financial markets.

The bank is adding branches and headcounts in China as business expands.

The London-based bank's financial markets services have grown 20 times in China over the past five years in terms of income.

The bank plans to set up a Dalian branch after opening branches in Shanghai, Beijing, Shenzhen, Guangzhou, Suzhou and Chengdu.

"We plan to go to more second-tier cities and even go west," said John Thang, the bank's co-head of sales of North East Asia of financial markets. The bank offers financial derivatives to institutional clients.


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