Latest News on Standard Chartered
Audrey Kuah Takes Helm as DBS Bank’s New Group Head of Marketing and Communications
DBS has appointed a new head of marketing and communications, with Kuah taking on the role. In this position, Kuah will be responsible for overseeing all marketing and communications operations across the group, including business and performance marketing, brand strategy, and internal and external communications. She will report to Derrick Goh, the Group Chief Operating Officer of DBS. The marketing and communications functions will now be consolidated under the Group Marketing and Communications division.
Kuah brings a wealth of experience to the role, having previously served as the Asia Pacific co-chief executive of VML, where she led large-scale transformation initiatives using data and advanced technology. She has also held senior roles at global firms such as J Walter Thompson, Dentsu, and WPP, as well as leadership positions in the financial sector at Citi, Standard Chartered, and OCBC. Her professional background includes pioneering work in predictive analytics, artificial intelligence-driven sales modeling, and data innovation.
The appointment of Kuah follows the decision of Karen Ngui to step aside from the marketing role to focus on her responsibilities as Head of DBS Foundation. Ngui will continue to lead the bank’s social impact strategy, including employee volunteer initiatives under the DBS People of Purpose programme. Kuah’s appointment is seen as a significant move for DBS, as the bank continues to invest in its marketing and communications capabilities.
With Kuah’s expertise in data-driven marketing and digital transformation, DBS is expected to enhance its marketing and communications strategy, leveraging technology and innovation to drive business growth. Her experience in the financial sector will also be valuable in helping DBS to navigate the complex and rapidly changing financial landscape. Overall, Kuah’s appointment is a positive development for DBS, and is expected to have a significant impact on the bank’s marketing and communications operations.
Peers may follow, but Kotak holds out: The argument against spinning off subsidiaries
Kotak is on the lookout for inorganic growth opportunities that meet certain strategic criteria. According to the company, an attractive opportunity should bring in a large number of new customers, provide access to significant deposits, or enhance the existing portfolio. The key considerations for evaluating potential deals include the strategic fit and valuation of the target. If both of these factors are favorable, the company is willing to pursue the transaction.
The company has a track record of successfully acquiring portfolios that meet its criteria. For instance, the acquisition of the Standard Chartered personal loan book and Sonata have been cited as examples of successful deals. These transactions have likely contributed to the company’s growth and expansion into new areas.
When evaluating potential deals, Kotak considers a range of factors, including the size and quality of the customer base, the deposit portfolio, and the potential for growth and returns. The company is looking for opportunities that can help drive long-term growth and profitability, rather than simply pursuing deals for their own sake.
In terms of specific criteria, the company is looking for opportunities that can bring in a significant number of new customers, provide access to low-cost deposits, or enhance the existing portfolio. The company is also focused on ensuring that any potential deal is strategically aligned with its overall business goals and objectives.
Overall, Kotak’s approach to inorganic growth is focused on identifying opportunities that meet specific strategic and financial criteria. The company is willing to pursue deals that offer a strong strategic fit and attractive valuation, and has a track record of successfully integrating acquired portfolios into its existing business. By taking a disciplined and targeted approach to inorganic growth, Kotak aims to drive long-term growth and expansion, while also enhancing its competitiveness and market position.
IDFC FIRST Bank Bolsters Cybersecurity Capabilities with the Appointment of Samarjit Roy Choudhury as Head of Infrastructure Security and Compliance
IDFC FIRST Bank has appointed Samarjit Roy Choudhury as its new Head of Infrastructure Security & Compliance, a key leadership position aimed at strengthening the bank’s digital security and governance frameworks. In this role, Samarjit will oversee security architecture, compliance structures, and infrastructure risk management, further advancing the bank’s mission to build a resilient and secure digital ecosystem. This appointment comes at a time when financial institutions are rapidly scaling their digital capabilities, requiring robust controls to safeguard customer trust and ensure stability.
Samarjit brings extensive experience in cybersecurity, having held senior roles at Jio Platforms Limited (JPL) and Standard Chartered. At JPL, he led large-scale cybersecurity initiatives involving cloud security, threat intelligence, and next-generation defense systems. At Standard Chartered, he was responsible for global cybersecurity programs, designing enterprise-wide protection models and ensuring compliance across regulatory environments. His experience has given him a multidimensional understanding of securing complex digital infrastructures and navigating security challenges in highly regulated financial ecosystems.
Samarjit’s background also includes ten years of service with the Indian Air Force, where he worked in mission-critical security environments and cyber operations. This experience has shaped his disciplined approach to risk management, preparedness, and operational resilience, attributes crucial for safeguarding modern banking systems. With this appointment, IDFC FIRST Bank underscores its focus on reinforcing trust, safety, and transparency across its expanding digital landscape.
Samarjit’s diverse experience across telecommunications, global banking, and defense brings a powerful combination of technical depth and strategic vision. His leadership is expected to accelerate the bank’s efforts to build a security-first culture and ensure robust protection for customers, partners, and stakeholders in an increasingly digital financial world. The bank aims to enhance its ability to proactively address emerging cyber threats, adapt to evolving compliance requirements, and maintain the highest standards of security governance. Overall, Samarjit’s appointment is a significant step towards bolstering IDFC FIRST Bank’s digital security posture and enhancing its governance frameworks.
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What would be the potential outcome of a hypothetical union between DBS and Standard Chartered?
A potential merger between DBS and Standard Chartered would be a significant event in the banking industry. DBS, a Singaporean bank, and Standard Chartered, a British bank with a strong presence in Asia, would create a massive financial institution with extensive reach and capabilities.
The combined entity would have a substantial presence in Asia, with DBS’s strong foothold in Singapore and Standard Chartered’s extensive network in countries such as China, India, and Korea. The merged bank would have a large customer base, with DBS’s existing customers in Singapore and Standard Chartered’s customers in Asia and other parts of the world.
The merger would also create a banking giant with a significant balance sheet, allowing it to compete with other large global banks. The combined bank would have a substantial portfolio of assets, including loans, deposits, and investments, and would be well-positioned to take advantage of growth opportunities in Asia.
However, integrating the two banks would be a complex and challenging task. DBS and Standard Chartered have different business models, cultures, and systems, which would need to be aligned and integrated. The merger would also require significant investment in technology and infrastructure to create a seamless and efficient operating platform.
The potential merger would also have significant implications for the banking industry in Asia. A combined DBS and Standard Chartered would be a major player in the region, with the ability to compete with other large banks such as HSBC and Citi. The merger would also create new opportunities for the combined bank to expand its presence in Asia, through acquisitions or organic growth.
Regulatory approvals would be a crucial aspect of the merger. The deal would need to be approved by regulators in Singapore, the UK, and other countries where the banks operate. The regulators would closely examine the merger’s impact on competition, financial stability, and consumer protection.
In terms of leadership, the merged bank would likely be headed by DBS’s CEO, Piyush Gupta, given DBS’s stronger financial performance and larger market capitalization. Standard Chartered’s CEO, Bill Winters, might take on a senior role, such as chairman or head of international operations.
The potential merger between DBS and Standard Chartered would be a game-changer for the banking industry in Asia. While there are significant challenges to be overcome, the combined bank would be a formidable player with a strong presence in the region and a substantial balance sheet. The merger would create new opportunities for growth and expansion, and would be a major development in the banking industry.
Overall, the merger would be a complex and challenging process, but it would also create a significant opportunity for the combined bank to become a major player in the banking industry in Asia. The merged bank would have a substantial presence in the region, a large customer base, and a significant balance sheet, allowing it to compete with other large global banks.
Top executives from JPMorgan, DBS, and Standard Chartered trade suits for sneakers in a charity run at the Hong Kong Stock Exchange
A unique charity event, The Community Chest HKEX Gong Run, was held in Central, Hong Kong, where hundreds of regulators, financiers, and executives from listed companies gathered to raise funds for The Community Chest. The event, co-organized by the Hong Kong Exchanges and Clearing (HKEX) and the charity organization, aimed to encourage listed companies and financiers to become more involved in philanthropy. The run featured relay races over 388 meters and 188 meters at Victoria Harbour, with top bosses from prominent companies such as JPMorgan, DBS Hong Kong, and Standard Chartered Bank participating.
The event raised HK$9.7 million (US$1.2 million) for The Community Chest, with the HKEX Foundation donating HK$88,000 on behalf of each participant in the All-Stars Challenge. The challenge featured a who’s who of Hong Kong’s financial sector, including Deputy Financial Secretary Michael Wong Wai-lun, Permanent Secretary for Financial Services and the Treasury Salina Yan Mei-mei, and Hong Kong Association of Banks chairwoman and Standard Chartered Hong Kong CEO Mary Huen Wai-yi.
The event highlighted the business community’s commitment to social responsibility and collective action. Agnes Chan Sui-kuen, chairwoman of the Hong Kong General Chamber of Commerce, stated that the event showed that corporate success and community care go hand in hand, strengthening Hong Kong’s spirit of solidarity.
The HKEX Foundation, established in June 2020, has contributed over HK$615 million to 150 community projects since its inception. As part of its 25th anniversary celebrations, HKEX announced a three-year program to donate at least HK$25 million to support carers in Hong Kong, which has now been doubled to HK$50 million. The foundation is working with non-profit organizations to explore options to help carers, including renting spaces in shopping malls for babysitters and studying flexible policies with companies.
The event and the HKEX Foundation’s efforts aim to address social and environmental challenges in Hong Kong, particularly in supporting carers who are taking care of both elderly parents and young children. With Hong Kong facing a rapidly aging population, the need for support for carers is increasing, and the HKEX is committed to building a strong network to make communities and workplaces more welcoming and supportive for caregivers.
Tamara Leisure Experiences Appoints Ms. Shalini Warrier to its Board as an Independent Director.
Tamara Leisure Experiences Pvt. Ltd. has announced the appointment of Ms. Shalini Warrier as an Independent Director to its Board of Directors. With over three decades of experience in the banking and finance sector, Shalini brings a wealth of knowledge in financial management, digital transformation, and strategic governance. She is currently the Co-Promoter and Chief Executive Officer of Gosree Finance Limited, a non-banking financial company based in Kochi, Kerala.
Shalini has had a distinguished career in banking, serving as Executive Director on the Board of Federal Bank from 2020 to 2025, where she led the bank’s Retail Banking business and oversaw its digital banking initiatives. She has also served as a Nominee Director on the Board of Ageas Federal Life Insurance Company and has held leadership roles at Standard Chartered Bank across multiple countries.
Shalini is a Chartered Accountant and a Certified Associate of the Indian Institute of Bankers. She is widely recognized as a thought leader in the financial industry and has represented Indian banking at several global fintech and technology forums. Her appointment to the Board of Tamara Leisure Experiences is expected to bring invaluable expertise in finance, digital innovation, and governance to the company.
The Chairman of Tamara Leisure Experiences, Mr. S. D. Shibulal, expressed his delight at Shalini’s appointment, stating that her experience will be invaluable as the company continues to strengthen its vision for responsible growth and operational excellence. Tamara Leisure Experiences is an award-winning hospitality group that is committed to sustainability and responsible governance. The company’s portfolio includes resorts, hotels, and wellness centers that are designed to demonstrate that exceptional hospitality can coexist in harmony with nature and community.
Shalini’s appointment is expected to enhance the strategic depth of the Board at Tamara Leisure Experiences, reinforcing the company’s commitment to integrating robust financial stewardship and sustainability-led governance as it continues to expand its portfolio across hospitality and allied sectors. With her extensive experience and expertise, Shalini is expected to play a key role in shaping the company’s future growth and development. Overall, the appointment of Shalini Warrier as an Independent Director is a significant development for Tamara Leisure Experiences, and is expected to have a positive impact on the company’s future prospects.
Tamara Leisure Experiences Appoints Ms. Shalini Warrier to its Board as an Independent Director
Tamara Leisure Experiences Pvt. Ltd. has announced the appointment of Ms. Shalini Warrier as an Independent Director to its Board of Directors. With over three decades of experience in the banking and finance sector, Shalini brings a wealth of knowledge in financial management, digital transformation, and strategic governance. She currently serves as the Co-Promoter and Chief Executive Officer of Gosree Finance Limited, a non-banking financial company based in Kochi, Kerala.
Shalini has had a distinguished career in banking, having served as Executive Director on the Board of Federal Bank from 2020 to 2025, where she led the bank’s Retail Banking business and oversaw its digital banking initiatives. She has also served as a Nominee Director on the Board of Ageas Federal Life Insurance Company and has held several leadership roles at Standard Chartered Bank across India, Brunei, Indonesia, Singapore, and the United Arab Emirates.
Shalini is a Chartered Accountant and a Certified Associate of the Indian Institute of Bankers. She is widely recognized as a thought leader in the financial industry and has represented Indian banking at several global fintech and technology forums. Her appointment to the Tamara Leisure Experiences Board is expected to bring significant value to the company, particularly in the areas of finance, digital innovation, and governance.
The Chairman of Tamara Leisure Experiences, Mr. S. D. Shibulal, expressed his delight at Shalini’s appointment, stating that her extensive experience will be invaluable as the company continues to strengthen its vision for responsible growth and operational excellence. Shalini’s appointment reinforces the company’s commitment to integrating robust financial stewardship and sustainability-led governance as it expands its portfolio across hospitality and allied sectors.
Tamara Leisure Experiences is an award-winning hospitality group that prioritizes sustainability and responsible growth. The company’s philosophy is centered around the idea of “People, Planet, and Profit, Thriving Together,” and every aspect of its operations reflects a commitment to conscious, responsible choices. With Shalini’s appointment, the company is poised to continue redefining responsible and memorable hospitality, offering guests enriching experiences that blend comfort, care, adventure, and wellbeing.
Hong Kong’s economic growth projection for 2025 revised upwards to 2.8% by Standard Chartered, reports The Standard (HK)
Standard Chartered has revised its economic growth forecast for Hong Kong in 2025, increasing it to 2.8 percent. This is a notable upgrade from the bank’s previous prediction, driven by a combination of factors that are expected to boost the territory’s economy.
One of the primary reasons for the revised forecast is the anticipated improvement in trade and exports. As the global economy continues to recover, Hong Kong’s trade sector is likely to benefit, with exports expected to increase. This, in turn, will have a positive impact on the territory’s GDP growth.
Another factor contributing to the revised forecast is the expected growth in domestic demand. As the local economy continues to recover from the COVID-19 pandemic, consumer spending and investment are likely to increase, driving economic growth. The Hong Kong government’s efforts to stimulate the economy through various measures, such as tax cuts and investment incentives, are also expected to contribute to the growth.
Standard Chartered’s economists also point to the territory’s strong financial sector as a key driver of growth. Hong Kong’s status as a major financial hub, with a highly developed banking system and a favorable business environment, is expected to attract more foreign investment and support economic growth.
In addition, the bank’s economists note that the Chinese government’s efforts to support the economy, including measures to boost domestic consumption and investment, are likely to have a positive impact on Hong Kong’s economy. As a major trading partner with China, Hong Kong is well-positioned to benefit from the mainland’s economic growth.
While there are still risks to the forecast, including the potential for a global economic downturn and ongoing geopolitical tensions, Standard Chartered’s economists believe that the positive factors will outweigh the negatives. Overall, the revised forecast of 2.8 percent GDP growth for Hong Kong in 2025 reflects a more optimistic outlook for the territory’s economy, driven by a combination of external and domestic factors.
The upgrade in the forecast is also a testament to the resilience and adaptability of the Hong Kong economy, which has faced numerous challenges in recent years, including the COVID-19 pandemic and social unrest. As the economy continues to recover and grow, it is likely to remain a major financial and trade hub, supporting economic growth and development in the region.
Standard Chartered notes that global reserve managers are presently adopting a countercyclical strategy in their trading of the US dollar.
According to Standard Chartered, global reserve managers are adopting a countercyclical approach to the US dollar, buying when it weakens and selling when it strengthens. This strategy is based on an analysis of IMF data, which shows that dollar reserves and the Bloomberg Dollar Index have moved in opposite directions in 17 of the past 20 quarters. This suggests that central banks are using currency fluctuations to rebalance their portfolios, rather than following market trends.
In the second quarter of 2025, for example, the US dollar fell by 6.6%, but official reserves actually rose by $50 billion. This is likely because central banks avoided adding to the selling pressure, instead choosing to buy the dollar at a weaker price. In contrast, in the fourth quarter of 2024, the dollar gained 7.1%, and reserves dropped by $154 billion as managers took profits on the strength of the dollar.
This pattern of behavior reflects a cautious and opportunistic approach by central banks, according to Standard Chartered. The bank notes that official institutions remain important stabilizing forces in global currency markets, and their actions can help to mitigate market volatility. By buying the dollar when it is weak and selling when it is strong, central banks can help to smooth out currency fluctuations and maintain stability in the market.
Overall, the data suggests that central banks are taking a proactive and strategic approach to managing their dollar reserves, rather than simply following market trends. This approach can help to reduce the risk of large losses due to currency fluctuations, and can also provide opportunities for profit when the dollar is strong. As a result, global reserve managers are playing an important role in maintaining stability in the global currency market.
Standard Chartered and Bank of India have finalized a $215 million loan agreement to support Air India’s plans to expand its fleet.
Standard Chartered and the Bank of India have jointly financed a $215 million term loan to an Air India subsidiary, AI Fleet Services IFSC Ltd (AIFS), for the financing of six Boeing 777-300ER aircraft. The seven-year financing is part of Air India’s ongoing fleet renewal and expansion plans, which aim to increase its fleet to 570 aircraft. The deal marks the first commercial aircraft finance transaction structured with a GIFT City borrower, highlighting India’s growing role in global aviation financing.
GIFT City, located in Ahmedabad, is emerging as a hub for aviation finance, and this deal underscores its importance. Standard Chartered acted as the structuring bank, while both lenders jointly underwrote the transaction as mandated lead arrangers and bookrunners. The move comes amid India’s aviation boom, with the sector expected to play a pivotal role in economic connectivity and growth.
Air India has embarked on a five-year transformation journey, placing an order for 570 new aircraft, merging sister airlines, and investing in training academies and maintenance facilities. The airline has also announced that it will operate 174 additional weekly flights across domestic and short-haul international routes during the winter schedule, starting on October 26. The expansion is designed to meet the growing travel demand during the winter schedule.
The new routes will enhance connectivity with major Indian cities and popular destinations in Southeast Asia. Internationally, the airline is ramping up operations on high-traffic routes, including flights between Delhi and Kuala Lumpur, and Delhi and Denpasar (Bali). In the domestic sector, Air India is targeting important seasonal and regional routes, including new direct services from Delhi to Jaipur and Jaisalmer.
The airline is also strengthening its network in central India, with increases in daily flights on routes connecting Delhi and Mumbai to Udaipur, Jaipur, and Jodhpur. Additionally, services to Gujarat, such as those from Mumbai to Bhuj and Delhi to Rajkot, are being expanded to operate twice daily. The network expansion comes as Air India’s fleet retrofit programme nears completion, with 26 of the 27 legacy Airbus A320neo aircraft targeted for cabin upgrades already retrofitted with completely redesigned interiors.
The airline currently operates a fleet of 187 aircraft, comprising Airbus and Boeing models, and is investing in both network and product to reposition itself as a world-class carrier. The ongoing transformation agenda aims to enhance the airline’s competitiveness and provide a better experience for its passengers. With the addition of new aircraft and routes, Air India is poised to play a significant role in India’s growing aviation sector.
Standard Chartered Signs Deals to Expand Indian Operations Worldwide
Standard Chartered, a London-based bank, has signed new agreements to expand its global India business. The bank has partnered with the Singapore Indian Chamber of Commerce & Industry and the Institute of Chartered Accountants of India in Singapore. These partnerships aim to increase the bank’s access to Indian business networks in Singapore and strengthen its presence within the community.
According to Standard Chartered, India’s population of high net worth individuals has doubled in the past decade and is projected to reach 1.6 million by 2027. The bank sees an opportunity to support and grow alongside this wave of wealth creation. James Lye, the bank’s global and Singapore international banking head, stated that there is a growing demand in the global Indian community for cross-border banking and wealth solutions.
The latest agreements are part of a broader effort to refresh Standard Chartered’s global Indian proposition, which began in 2024. The revamp included increased connectivity with the bank’s hubs in Singapore, Hong Kong, UAE, and UK, as well as access to a new affluent wealth center in Mumbai and lifestyle experiences.
To cater to its Indian clients, Standard Chartered recently hosted an exclusive Deepavali celebration in Singapore, which was attended by over 200 clients. The event featured a traditional Diya lighting ceremony, a classical sitar and tabla performance, and a performance by renowned Hindi playback singer Sonu Nigam. This event is an example of the bank’s efforts to provide unique experiences to its clients and strengthen its connection with the Indian community.
Through these partnerships and initiatives, Standard Chartered aims to deepen its understanding of the Indian market and provide tailored solutions to its clients. The bank’s goal is to position itself as a leading provider of cross-border banking and wealth solutions to the global Indian community. With its refreshed global Indian proposition, Standard Chartered is well-placed to support the growing wealth creation in India and cater to the needs of its high net worth individuals.
Standard Chartered broadens initiative to promote women’s careers in finance
Standard Chartered has announced the expansion of its Women in Technology Incubator program, aimed at supporting female entrepreneurs in the banking and financial technology sectors. The program, which was initially launched in 2017, provides a platform for women to develop their business ideas, gain mentorship, and access funding.
The expansion of the program is part of the bank’s efforts to increase diversity and inclusion in the technology and banking industries. According to Standard Chartered, the program has already supported over 200 female-led startups, with many going on to secure funding and scale their businesses.
The Women in Technology Incubator program offers a range of benefits to participants, including access to mentorship, training, and networking opportunities. The program also provides funding to support the development of business ideas, as well as access to the bank’s global network of clients and partners.
Standard Chartered’s expansion of the program is seen as a significant step towards promoting gender diversity in the banking and technology industries. The bank has set a goal of having 30% of its technology workforce made up of women by 2025, and the program is expected to play a key role in achieving this target.
The program has already had a positive impact on the lives of many women, with many participants reporting significant improvements in their businesses and careers. The program has also helped to create a community of female entrepreneurs and technologists, who are able to support and learn from each other.
The expansion of the Women in Technology Incubator program is part of a broader effort by Standard Chartered to promote diversity and inclusion across its operations. The bank has also launched a range of other initiatives, including training programs and networking events, aimed at supporting women in the workplace.
Overall, the expansion of the Women in Technology Incubator program is a significant step towards promoting gender diversity in the banking and technology industries. The program has the potential to make a significant impact on the lives of many women, and to help create a more diverse and inclusive industry. With its global reach and commitment to diversity and inclusion, Standard Chartered is well-placed to make a positive impact in this area.
New twist unfolds in Standard Chartered retirees’ pension dispute as law firm files suit to recover service costs
A recent development has added a twist to the ongoing pension saga involving Standard Chartered Bank (StanChart) retirees. A law firm has filed a suit against the retirees, seeking to recover service costs incurred during their initial legal battle against the bank. The retirees had taken StanChart to court over changes to their pension scheme, which they claimed would significantly reduce their benefits.
The law firm, which represented the retirees in their case against StanChart, is now seeking to recover costs associated with providing legal services to the retirees. The firm claims that the retirees agreed to pay for these services, but have since failed to do so. The retirees, on the other hand, argue that they were not aware of the terms of the agreement and did not consent to paying the law firm’s costs.
The pension saga began when StanChart announced changes to its pension scheme, which would have resulted in reduced benefits for retirees. The retirees, who had accrued benefits under the old scheme, argued that the changes would unfairly deprive them of their entitlements. They took the bank to court, seeking to block the changes and protect their pension benefits.
The court ultimately ruled in favor of the retirees, ordering StanChart to revert to the old pension scheme. However, the victory was short-lived, as the law firm representing the retirees then filed a suit seeking to recover service costs. The retirees are now facing a new legal battle, as they attempt to resist the law firm’s claims.
The case has sparked debate about the ethics of law firms suing their clients for service costs, particularly in cases where the clients are vulnerable individuals such as retirees. The retirees argue that they were not aware of the terms of the agreement and did not consent to paying the law firm’s costs. They also claim that the law firm’s actions are unfair andamount to a betrayal of trust.
The case is ongoing, with the retirees seeking to have the law firm’s suit dismissed. The outcome of the case will have significant implications for the retirees and could potentially set a precedent for similar cases in the future. The retirees are hoping that the court will rule in their favor, allowing them to finally put the pension saga behind them and enjoy their retirement without further legal battles.