Standard Chartered launches renovation programme
By Akhry Ameer
Standard Chartered Bank (SCB) launched a $2.5 million refurbishment programme with the opening of its new look Fort Branch last week. David Richards, Regional General Manager - Middle East and South Asia (excluding India) was also in the country to ceremonially open the new branch.
SCB's Fort branch is part of a larger refurbishment programme in which all of the bank's eight local branches will conform to international standards of SCB by end 2004.
Under the programme, SCB's branch in Wellawatte together with two others would also be refurbished by end this year.
The bank last year completed a programme to fully incorporate its takeover of the branches of ANZ Grindlays in Sri Lanka, as part of its purchase of the bank in the Asian region.
A new IT platform will also constitute part of the investment. The new system would enable SCB to exploit the advantages of the Internet and extend enhanced customer services through the CRMS (Customer Relationship Management System) features.
David Richards addressing the media said that the refurbishment coincides with the bank's 150th anniversary celebrations this year. "Sri Lanka is an important part of our bank network, as over 25% of our business is in the Middle East and South Asia. I am happy to note that we are one of the oldest banks here with a 110-year-old presence. Our investment is a clear statement of our commitment," he said.
SCB will also be extending its reach by an additional branch having already obtained approval from the Central Bank. The new branch will be located in Colombo 7.
Further, the bank is hoping to gain a significant stake in the local credit card market. It relaunched its Gold Master Card with exclusive privileges targeted at high-end customers. The credit card carried features such as discounts on dining at five star hotels, special health checks, gymnasium memberships, etc. Currently the bank accounts for 18% of the local credit card market.
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