Standard Chartered Bank is a publicly traded company of British origins. It is associated with banking and financial services and deals in related products. Standard Chartered Bank was founded in the year 1969 after a merger between Standard Bank of British, South Africa and The Chartered Bank of India, Australia and China. It faces competition from following banks-
- Morgan Stanley
- Barclays Bank
- Wells Fargo
- HSBC
- JP Morgan and Chase
- Goldman Sachs Group
- ABN AMRO
About Standard Chartered Bank
- Type: Bank services
- Industry: Financial services
- Founded: 1969
- Founders: Royal Charter, Chartered Bank of India, Australia and China, Standard Bank
- Headquarters: London, England, UK
- Area served: 70 countries and territories
- Key people: Bill Winters – Chief Executive Officer and Peter Sands – Chairman
- Number of employees: Over 85,000 Worldwide
Table of Contents
Product in the Marketing Mix Of Standard Chartered Bank :
Standard Chartered is a universal bank that operates in treasury services and institutional, corporate and consumer banking. It has a diversified range of products and services for its esteemed clients that include-
Personal Banking
- Credit Cards
- Mortgages
- Employee Banking
Savings and Accounts
- Marathon saving
- Women’s Account
- Payroll
- My Dream
- eSaver
- Foreign Currency
Loans
- Personal Loan
- Home Loan
- Educational Loan
Investments
- Investment Advisory Services
- FX Margin Trading
- Premium Currency Deposits
- Currency Trading
- Principal-Protected Currency Deposits
- Mutual Funds
Insurance
- Life insurance
- Travel Insurance
- Motor Insurance
- Home Insurance
- Medical and Health Insurance
- Retirement Planning Insurance
- Savings Insurance
Business Banking
- SME Banking
- Renminbi Services
- Global Research
- Islamic Banking
Corporate Finance
- Principal Finance
- Structured Finance
- Leveraged Finance
- Structured-Trade Finance
- Acquisitions and Mergers advisory
- Export and Project Finance
Financial Markets
- Structuring
- Capital Markets
- Foreign Exchange
- Rates and Credit
- Commodities
Transaction Banking
- Client Services
- RMB Settlement
- Securities Services
- Trade Services
- Cash Management
Private Banking
- Online banking
Place in the Marketing Mix Of Standard Chartered Bank :
Standard Chartered Bank started its operations from the United Kingdom and has its headquarters base at London. It has spread its presence to countries like India, Hong Kong, China, Bangladesh, Australia, Japan, Nepal, Pakistan, Malaysia, Singapore, Taiwan, Vietnam, Sri Lanka and Cambodia. Standard Chartered Bank has a powerful and widespread distribution network that includes five thousand and five hundred ATMs and twelve hundred branches, joint ventures, associates and subsidiaries established in nearly seventy countries.
It has a strong workforce of more than 87,000 employees to help in both direct and indirect dealings and handlings. Standard Chartered Bank has launched a mobile banking app titled Standard Chartered Breeze for iPad, iPhone and computer. It promotes both internet and mobile banking so that it can encourage cashless transactions.
Price in the Marketing Mix Of Standard Chartered Bank :
Standard Chartered Bank is a multinational organisation with estimated revenues at the end of the financial year 2015 of 14.613 billion dollars, net income 2.196 billion dollars and total assets 432 billion pounds. As of January 20th year 2016, it recorded market capitalization at nearly 15 billion pounds.
The banking industry is governed and regulated by the central bank of a country and it has to adopt its policies in tandem with rules and regulations set up by them. Standard Chartered Bank earns its revenues from basic facilities of banking and finance. 90% of company profits are garnered from countries in Middle-East, Africa and Asia. It has adopted a competitive and reasonable pricing policy by keeping interests rates affordable so that it can increase its customer base and penetrate in most countries successfully.
Promotion in the Marketing Mix Of Standard Chartered Bank :
Standard Chartered Bank has launched both innovative and aggressive marketing policies. It has launched commercials in electronic and print media via television, newspapers and magazines. Bank has taken help of social media platforms like Twitter, blog, Facebook and Instagram to create positive brand visibility. It encourages direct participation by customers in terms of grievances and queries via its official web page.
As part of its promotional policy Company distributed free iPads to various individuals. Standard Chartered Bank has entered into sponsorship deals to become the main sponsor of a football team Liverpool Football Club. Bank has undertaken philanthropic and CSR activities and has ties with charitable organisations like Seeing is Believing and International agency for the Prevention of Blindness.
Liked this post? Check out the complete series on Marketing Mix
