Standard Chartered is sharpening its focus in Sri Lanka around corporate and investment banking, following the divestment of its wealth and retail banking business, as the lender aligns its local operations with its broader global strategy. The bank said the shift would allow it to concentrate resources on areas where it has sufficient scale and can offer a more distinctive proposition, particularly to corporates, multinationals and financial institutions. “Standard Chartered’s focus on corporate and investment banking reflects a clear strategic direction: to concentrate on areas where we can deliver our strongest and most distinctive value to clients, institutions and the wider economy. The divestment of our wealth and retail banking business reflects a strategic decision, in line with our global strategy, to focus resources where we have the necessary scale and most distinctive proposition,” said Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri. Through its corporate and investment banking business, Standard Chartered provides transaction banking, financing, risk management, advisory and market solutions to corporate and institutional clients. Its financial institutions business in Sri Lanka also operates as a banker to the local banks, providing cash and trade solutions that support cross-border payments, liquidity management and trade flows. Drawing on its network across Asia, Africa and the Middle East, Standard Chartered connects Sri Lankan businesses and financial institutions with international trade corridors, capital flows and investment opportunities. The bank said this role becomes particularly important when access to international markets and banking appetite are constrained. It supports the local banks with cross-border trade requirements, including letters of credit, guarantees and financing solutions. During the COVID-19 pandemic, Standard Chartered helped finance vaccine imports and other critical medical supplies through arrangements with the state-owned banks and multilateral partners. For Sri Lankan corporates pursuing cross-border expansion, the bank provides access to international markets, counterparties and financing expertise. Its support covers trade, cash management, foreign exchange, risk management and capital solutions, helping clients structure transactions, manage liquidity and navigate complex global conditions. Standard Chartered has operated in Sri Lanka for more than 130 years, supporting trade, connecting businesses with overseas markets and bringing international banking expertise to the local clients. The bank said its long-standing presence provides continuity, while the sharper focus on corporate and investment banking would position it to serve clients whose requirements are becoming more sophisticated, international and closely linked to Sri Lanka’s economic recovery. As Sri Lanka moves through economic recovery and reform, Standard Chartered said it would continue serving businesses, financial institutions and investors while connecting the country with international markets. The bank added that its purpose of driving commerce and prosperity and its “Here for good” brand promise would continue to guide its operations in Sri Lanka.
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