About Standard Chartered (STAN)

Company Description:

Standard Chartered PLC is a multinational banking and financial services company. It primarily engages in the provision of banking services such as retail, corporate, and institutional banking, as well as treasury services.

The bank operates through various business segments including Corporate, Commercial & Institutional Banking, Private Banking, Retail Banking, and Treasury Services.

Standard Chartered was formed in 1969 through a merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China, and is headquartered in London, United Kingdom.

Main Product(s):

Standard Chartered offers a wide range of services including corporate and retail banking, credit cards, investment banking, wealth management, and treasury services.

Short History of Standard Chartered PLC:

1969 - The bank was formed from the merger of the Standard Bank of British South Africa and the Chartered Bank of India, Australia, and China.

1986 - Acquired a controlling interest in Union Bank of Pakistan.

2000 - Acquired Grindlays Bank from ANZ, increasing its presence in private banking.

2010 - Standard Chartered reached a settlement on Iran-related transactions with U.S. authorities.

2015 - Announced a major restructuring under CEO Bill Winters to review the bank's strategy.