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
Discount-store operator Target, Inc. on Tuesday reported a 43 percent decline in profit in the fourth quarter from last year, reflecting lower sales and weaker margins. In addition, the prior-year period's results included a one-time gain. Adjusted earnings per share for the latest quarter missed analysts' expectations. Grocery store chain Trader Joe's has voluntarily recalled three of the brand's unsweetened apple sauce products, because of the potential presence of glass pieces in the jars. The recalled products include Trader Joe's First Crush Unsweetened Gravenstein Apple Sauce and Organic Unsweetened Apple Sauce sold in all stores. The company has about 460 stores in nearly 40 states. Amazon-owned Twitch plans to start selling game downloads from players' live broadcasts. The platform will allow its around 17,000 game-broadcasting partners to sell games and in-game content directly from their pages when they are live-streaming gameplay, starting this spring.
comments powered by Disqus
Follow RTT