Standard Bank PLC (স্ট্যান্ডার্ড ব্যাংক পিএলসি) is a private commercial bank in Bangladesh. Kazi Akram Uddin Ahmed is the founder chairman of the bank and Kamal Mostafa Chowdhury is the founder vice-chairman of the bank. The bank was founded on 03 June, 1999, with an approved capital of 750 million taka. Standard Bank PLC decided to switch to Sharia complaint banking from traditional banking; it remained close for four days in December, 2020 to make the transition.
Overview:
Standard Bank PLC (SBL) was incorporated as a Public Limited Company on May 11, 1999 under the Companies Act, 1994 and the Bank achieved satisfactory progress from its commercial operations on June 03, 1999. Standard Bank has introduced several new products on credit and deposit schemes. It also goes for Corporate and Retail Banking etc. The Bank also participated in fund Syndication with other Banks. Through all these myriad activities Standard Bank has created a positive impact in the Market. Standard Bank PLC decided to switch to Shariah based banking from traditional banking on December, 2020.
See also:
❏ Banks in Bangladesh
Standard Bank PLC at a glance: | |
| Bank Name | Standard Bank PLC (স্ট্যান্ডার্ড ব্যাংক পিএলসি) |
| Logo |  |
| Legal Status | Public Limited Company |
| Established | 1999 |
| Type | Private Bank |
| Category | Commercial Bank |
| Origin | Local Bank |
| Address | Metropolitan Chamber Building, 122-124 Motijheel Commercial Area, Dhaka 1000, Bangladesh |
| Call Center | |
| Telephone | +8802223358385, +8802223385106, +8802223357913 |
| PABX | |
| Fax | +880 2 7176367 |
| Bank Code | 210 |
| Stock Code | STANDBANKL – DSE CSE |
| SWIFT Code | SDBLBDDH |
| sblho@standardbankbd.com | |
| Website | www.standardbankbd.com |
| Service Hours | Business day (Sun ~ Thu) 10:00 am ~ 4:00 pm * (Fri ~ Sat) Closed |
| Services |
|
History of Standard Bank PLC:
Standard Bank PLC (স্ট্যান্ডার্ড ব্যাংক পিএলসি) is a private sector commercial bank in Bangladesh. It started operations on 03 June, 1999 with an authorized capital of Tk 750 million and paid up capital of Tk 200 million. The capitals were divided into ordinary shares of Tk 100 each. The 50% of paid up capital was paid by entrepreneurs directors designated as Group-A shareholders and the remaining 50% was paid by members of the general public designated as Group-B shareholders. The bank was incorporated as a public limited company under companies act 1994. There are total 138 branches, 12 Agent Outlets and 59 ATM booths of Standard Bank PLC situated in Bangladesh.
The bank offers commercial banking services including deposit, providing loans and advances, export and import financing, inland and international remittance facilities and other ancillary customer services to banking and finance. Since its inception, the bank conducts foreign exchange business. It has correspondent relationships with 22 foreign banks and financial institutions. The bank plays an important role to explore the domestic economy through those foreign banks and financial institutions. Moreover, the bank with the view of helping of migrated workers opened an exchange house named with Standard Exchange Company Limited in the UK. So they can send remittance easily and swiftly. Standard Bank already has introduced on-line banking, ATM and Debit Card facilities.
The bank has started 6 SME Service Center’s in different regions of country for stretching small and medium size industry, providing assistance to less income people and poverty alleviation. Besides this, the bank is lending money for rural development and irrigation in easy terms. Furthermore, the bank is catering the investors of the capital market through merchant banking service facilities. Besides, the conventional banking system, the bank established two Islami Wing to introduce islami banking services. The bank has 138 branches and 821 employees in different levels.
Services Offered by Standard Bank PLC:
Standard Bank PLC is a major financial institution with a wide range of services, especially focused on retail, corporate, and investment banking. Below is an overview of the services typically offered by Standard Bank, though offerings may vary slightly depending on the country of operation:
1. Personal Banking Services
- Savings and Current Accounts: Standard Bank provides various account options to cater to individual needs, from basic current accounts for day-to-day transactions to savings accounts with competitive interest rates.
- Debit and Credit Cards: Offering a variety of debit and credit cards with different features, rewards, and limits.
- Personal Loans: Standard Bank offers unsecured personal loans, which can be used for purposes such as education, home improvement, or travel.
- Mortgages/Home Loans: A wide range of home financing options including fixed and variable-rate mortgages, first-time homebuyer plans, and refinancing solutions.
- Savings and Investment Plans: These include fixed deposits, unit trusts, and other investment vehicles that cater to different risk appetites and goals.
2. Corporate and Business Banking
- Business Accounts: Tailored banking solutions for businesses, including current accounts for day-to-day operations and specific savings or investment accounts.
- Corporate Loans and Financing: Includes short-term and long-term loans, overdraft facilities, and revolving credit tailored to business needs.
- Trade Finance: Standard Bank provides a range of trade finance products such as letters of credit, guarantees, and trade loans, enabling companies to facilitate import/export transactions.
- Cash Management: Services designed to help businesses manage liquidity, payments, collections, and cash flows effectively.
- Foreign Exchange Services: Solutions for companies dealing with international trade or investments, including FX spot and forward contracts.
- Asset Finance: Business financing solutions that allow companies to acquire assets like machinery, vehicles, or equipment without tying up working capital.
3. Investment Banking Services
- Advisory Services: Providing expert advice on mergers, acquisitions, capital raising, and corporate restructuring.
- Debt and Equity Capital Markets: Helping businesses raise capital through debt instruments (bonds, notes) or equity (stock offerings).
- Project Finance: Long-term financing for large infrastructure or industrial projects.
- Structured Finance: Tailored financial solutions that combine debt and equity instruments to suit the unique needs of businesses and projects.
- Derivatives and Risk Management: Solutions to help clients manage interest rate risk, currency risk, and commodity price fluctuations using financial derivatives.
4. Wealth and Investment Services
- Wealth Management: Tailored services for high-net-worth individuals, offering financial planning, estate planning, retirement planning, and investment management.
- Investment Products: Access to a wide array of investments, such as mutual funds, bonds, equities, and alternative investments.
- Retirement Planning: Providing retirement savings and pension schemes designed to secure the future financial well-being of clients.
5. Digital and Mobile Banking
- Internet Banking: Secure online banking services that allow clients to manage accounts, make payments, transfer funds, and apply for products.
- Mobile Banking: Standard Bank offers mobile applications for smartphones that allow customers to perform transactions, check balances, and manage their accounts on the go.
- SMS Alerts: Real-time SMS notifications for account activity such as deposits, withdrawals, or account balance updates.
- Digital Wallets: In some regions, the bank offers integration with digital wallet solutions like Apple Pay or Samsung Pay, allowing for contactless payments.
6. Insurance Products
- Life Insurance: Standard Bank offers life insurance policies tailored to the needs of individuals and families to provide financial security in the event of death.
- Health Insurance: In certain markets, health insurance plans are offered to cover medical expenses.
- Vehicle and Home Insurance: Insurance products to protect personal assets like cars and homes against damage or theft.
- Business Insurance: Comprehensive insurance solutions for businesses to protect against risks like property damage, liability, or employee-related risks.
7. International and Cross-Border Services
- Foreign Exchange (FX) Solutions: Facilitation of currency conversion for international trade or personal travel.
- Global Payments: Cross-border payment solutions for businesses and individuals, including wire transfers and remittances.
- Offshore Banking: For clients needing to manage wealth or business operations internationally, Standard Bank offers offshore banking services.
- Multicurrency Accounts: Allow clients to hold accounts in multiple currencies, useful for individuals or businesses with international financial dealings.
8. Specialized Industry Services
Standard Bank has experience providing tailored banking and financial services for specific industries, such as:
- Mining and Natural Resources: Specialized financing, risk management, and advisory services for companies in the energy, mining, and commodities sectors.
- Agriculture: Solutions such as agricultural loans, equipment financing, and crop insurance designed to support farmers and agribusinesses.
- Infrastructure and Construction: Project finance and advisory services for large-scale construction and infrastructure projects.
Contact
Standard Bank PLC, Head Office: Metropolitan Chamber Building, 122-124 Motijheel Commercial Area, Dhaka 1000, Bangladesh or contact any Branch/ Sub-Branch/ Agent Banking Outlet of the Bank
✆ Call Center:
Telephone: +8802223358385, +8802223385106, +8802223357913
Fax: +880 2 7176367
Bank Code: 210
SWIFT Code: SDBLBDDH
Email: sblho@standardbankbd.com
Website: www.standardbankbd.com
