BANKING & FINANCE
Standard Chartered Bank:
Bridging Global Markets and Local Economies for Over Six Decades
Standard Chartered Bank (SCB) has a long history, having established itself in 1958 as Brunei’s first mobile bank. This early adoption of mobile banking set the stage for the bank’s ongoing contribution to the region’s economic development. SCB’s journey began in the Belait District, a region with growing economic activity in the late 1950s. From this point, the bank expanded its operations across all four districts of Brunei. Among its notable achievements was the introduction of mobile banking services, using a bus to deliver financial services directly to the community and support account openings.
“We are proud to say we are currently the longest-serving bank in Brunei, established in 1958, making it 66 years,”
shared SCB Chief Executive Officer (CEO) Pengiran Aki Ismasufian bin Pengiran Haji Ibrahim
Expanding The Horizons
Over the years, SCB has made significant investments in its international networks, becoming the only major international bank with a presence in all 10 ASEAN markets. This expansive network serves a market of over 600 million people, creating substantial growth opportunities.
“ASEAN is a significant market for us, with over 600 million people, offering immense growth potential.”
The bank’s strategic focus on Asia, the Middle East, and Africa further underscores its commitment to developing and emerging markets. By leveraging its global presence, SCB continues to facilitate cross-border banking and foster economic growth across regions.
As the bank strengthens its presence, it has cultivated a trusted network of clients and partners, while also prioritising close collaboration with regulators through continuous dialogue and strategic partnerships.
“Our key strategic focus as a global bank is to leverage our network, facilitate cross-border banking, and focus on serving the affluent. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise: Here for Good.”
Investment in People
SCB’s success is deeply rooted in its investment in people, with 99 per cent of its workforce being Bruneians. The bank remains committed to upskilling and developing local talent.
“Our employees are our greatest asset, and we are dedicated to nurturing and developing local talent,” added the CEO. Initiatives like the Asia 100 programme allow employees to gain international experience, broadening their horizons and enriching their professional capabilities.
“We provide opportunities for them to operate in larger markets, gaining valuable knowledge, skills, and ethical insights.” This dedication to talent development ensures that SCB’s workforce remains agile and prepared to meet the demands of an evolving financial landscape.
Innovation and Digitalisation
In line with global trends, SCB is committed to digitalisation and sustainability. The bank’s corporate online banking features, such as live chat, enhance customer experience and streamline banking processes.
SCB’s award-winning SC Mobile app and online banking platform provide clients with convenient access to their investment portfolios, making investing accessible to everyone.
“We are committed to progressing in digitalisation and sustainability”.
SCB’s emphasis on sustainable investments reflects its commitment to ESG principles. The bank offers ESG- focused unit trusts, sustainable accounts, and bonds, positioning itself as a leader in sustainable finance in the region.
“Sustainability is a significant global trend, and we have placed a strong emphasis on it, especially within our corporate and investment banking sectors,” shared the CEO.
SCB’s community engagement initiatives in education, health, and sustainability further reinforce its dedication to the Sustainable Development Goals (SDGs)
Driving Brunei Economic Growth
SCB’s role in Brunei’s economic development is multifaceted. The bank supports foreign direct investments (FDIs), multinational companies, and government-linked companies, contributing to the nation’s economic growth.
By promoting Brunei for FDIs and helping local companies and individuals expand internationally, SCB leverages its extensive network to bolster economic development.
“Brunei’s economy is a key part of our strategy. As an international and global bank, we contribute by leveraging our network. We have a multinational client base globally, and we continue to offer support by promoting Brunei for FDIs.” Add to that, SCB’s expertise across all ASEAN companies has also helped local companies looking to expand internationally as well as individuals wishing to invest outside the Sultanate.
“The key is leveraging our network to support Brunei’s economy.”
LOOKING AHEAD
As SCB looks to the future, it remains steadfast in its commitment to Brunei’s economic growth and the prosperity of its clients. With a deep-rooted history of innovation and service excellence, SCB is poised to continue its legacy of driving commerce and prosperity through its unique diversity. “We recognise the challenges ahead but also see the opportunities. With a deep- rooted history of 66 years in Brunei, we are looking forward to the next 66 years and beyond.”