So what about your organic expansion plans for India?
No doubt, we want to [grow]. Today, India is the second largest market for the bank in terms of pre-tax profit. But as you know, we are very much restricted by the existing regulatory restrictions.
RBI is now considering reviewing its position on the issue of liberalization of foreign banks in the country. Hypothetically speaking, if it allows you to expand both in terms of branches as well as through inorganic means, what would be your preference?
Naturally, expanding our branch network will come into the picture the very moment we get the freedom. But for inorganic means, it would depend a lot on opportunities, valuations and many such things.
Does this money raising have any link to your expansion plans in India?
Not exactly! This amount will go to the parent company. Even the amount is not of a considerable value. It’s less than 1% of our current market cap. But what we are really looking from this issue is that these IDRs will help us to expand our brand presence in the Indian market as well as among the Indian consumers.
We have not seen Standard Chartered much in the ad space, any specific reason for the same?
We never believed much in it though we sponsored some events like the Asia Cup. But yes, of late, we have realized the value of branding and currently working really hard on the same. In one of our latest attempts to create brand awareness across the globe, we have recently started sponsoring the Liverpool Football Club as soccer, as a game, has a great fan following across the globe. Even in India, we had sponsored the Mumbai Marathon, which was a great a success for us. Also we have come up with a campaign titled “Here for Good”. We are committed to our market through thick and thin.
No doubt, we want to [grow]. Today, India is the second largest market for the bank in terms of pre-tax profit. But as you know, we are very much restricted by the existing regulatory restrictions.
RBI is now considering reviewing its position on the issue of liberalization of foreign banks in the country. Hypothetically speaking, if it allows you to expand both in terms of branches as well as through inorganic means, what would be your preference?
Naturally, expanding our branch network will come into the picture the very moment we get the freedom. But for inorganic means, it would depend a lot on opportunities, valuations and many such things.
Does this money raising have any link to your expansion plans in India?
Not exactly! This amount will go to the parent company. Even the amount is not of a considerable value. It’s less than 1% of our current market cap. But what we are really looking from this issue is that these IDRs will help us to expand our brand presence in the Indian market as well as among the Indian consumers.
We have not seen Standard Chartered much in the ad space, any specific reason for the same?
We never believed much in it though we sponsored some events like the Asia Cup. But yes, of late, we have realized the value of branding and currently working really hard on the same. In one of our latest attempts to create brand awareness across the globe, we have recently started sponsoring the Liverpool Football Club as soccer, as a game, has a great fan following across the globe. Even in India, we had sponsored the Mumbai Marathon, which was a great a success for us. Also we have come up with a campaign titled “Here for Good”. We are committed to our market through thick and thin.
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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