British lender Standard Chartered Plc (STAN.L,STAC.L,SCBFF.PK) plans to invest significantly in China as it seeks to increase its branches in the mainland in 2012 to 100 from the current 83, Xinhua reported quoting the company's chief executive officer Peter Sands.
Opening of new branches will depend on the timing of the licenses and the obtaining of properties. The lender will hire more hands to operate the increased network.
The lender hired around 2,000 people globally in 2011 taking the total headcount to around 87,000. Among countries, China topped the headcount growth.
Sands also said the bank would play a leading role in using the renminbi in London and will also participate in preparations on thoughts about London's role as an offshore renminbi center.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.