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Standard Chartered Bank Shifts Focus to Retail Lending
April 26, 2018
In light of the increased bad loans, India’s largest foreign bank Standard Chartered is now planning to focus on retail lending.
The bank’s Chief Executive Officer Zarin Daruwala said that it will expand its retail loan book from the current 29% to 40% as it’s a highly profitable market. He said that the retail lending has grown 209% in the past 2 years alone.
Daruwala said that the bank has only 100 branches in India which are less considering the size of the market. He said that the plan is to focus on digital outreach and marketing for the expansion of the bank’s retail lending business.
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