Standard Chartered Bank sets up private banking centre in Chennai; to serve ultra-high-net-worth clients

Non-public sector Commonplace Chartered Financial institution has inaugurated its non-public banking centre within the metropolis, the over-century-old financial institution stated on Saturday. This Non-public Banking Centre is the fifth after Bengaluru, New Delhi, Kolkata, and Mumbai.

Geared toward serving excessive internet value and ultra-high internet value purchasers, the Non-public Banking Centre provides merchandise, advisory, and insights to handle, develop, and defend private and enterprise wealth.

“Being one of many oldest world banks in India, we now have relationships throughout multi-generations and subsequently we will focus each on a standard method whereas providing bespoke, goal, and holistic recommendation supported by an open structure platform,” stated the Financial institution’s Managing Director and Head Prosperous, Non-public Financial institution and Department Community, Nitin Chengappa.

“We’re excited to open our new non-public banking centre in Chennai. Tamil Nadu is a serious financial and monetary centre, and we see plenty of potential for development in our non-public banking enterprise on this area,” he stated.
With the establishing of the brand new Non-public Banking Centre, the purchasers would get entry to a set of distinctive funding, wealth, and banking options. The Centre additionally helps them with a personal banker, service supervisor, and likewise funding specialist with entry to a full spectrum of options. On the establishing of the Non-public Banking Centre, the financial institution’s Head-Non-public Banking, Pankaj Walia stated, India’s Extremely Excessive Web value inhabitants is rising quickly, and there’s a large alternative on this house. “The nation’s start-up tradition, supported by robust GDP development and new capital, is creating a brand new group of billionaires,” he stated.

The Financial institution recognises the purchasers’ numerous wealth administration wants and therefore, brings entry to a full spectrum of end-to-end monetary options, as a worldwide common financial institution, for each stage of the consumer’s private and work trip, Walia stated within the launch.