StanChart starts offering banking services from Saudi branch | Reuters
Standard Chartered (STAN.L) has begun offering banking services through its branch in Saudi Arabia with a team of 25 people, the bank said on Thursday, as it boosts its presence in the Arab world's biggest economy.
Saudi Arabia granted Standard Chartered a banking licence in 2019, which helps it to expand beyond the capital markets business it has conducted in the kingdom since 2011.
Standard Chartered was among other banks recently hired to lead energy giant Saudi Aramco's inaugural dollar sukuk issue that raised $6 billion.
"We are delighted to announce the commencement of business operations of (a) Standard Chartered Bank branch in the kingdom of Saudi Arabia," said Sarmad Lone, regional head of client coverage for corporate, commercial and institutional banking.
No comments:
Post a Comment