Science Fair Project Encyclopedia
Standard Chartered Bank
Standard Chartered Bank , is a British bank headquartered in London with operations in many countries, especially in Asia and Africa. Despite its British base, the bank has few customers in the United Kingdom, and makes more than 30% of its profit from its market in Hong Kong in 2004. It is however, a large British company, quotated on the London Stock Exchange and a constituent of the FTSE 100 Index of leading British companies.
Standard Chartered Bank was formed through the merger of two British overseas banks: the Standard Bank of British South Africa and The Chartered Bank of India, Australia and China. These two banks could trace their histories back to the foundation in 1853, when they were granted Royal Charters by Queen Victoria. The two banks expanded throughout the British Empire until they merged in 1969.
Today the bank is a leading player throughout the developing world.
The bank recently acquired Korea First Bank beating HSBC for the bid.
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