logo
Share SHARE
FONT-SIZE Plus   Neg

Standard Chartered To Increase Branch Network In China To 100

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Toy maker Hasbro Inc. (HAS) reported a profit for the fourth-quarter 2015 that grew about 3.5% from last year. Quarterly net revenues increased 13% from the prior year. Both earnings per share and revenue for the quarter beat analysts' expectations. Healthcare plan provider Centene Corp. (CNC) has been executing on its strategic objectives, including margin expansion. With its growing portfolio of integrated health solutions, Centene has a strong presence in government-sponsored healthcare, the highest growth category in the industry. A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The...
comments powered by Disqus
Follow RTT