Standard Chartered Bank was formed by the merger of two British overseas banks: the Standard Bank of British South Africa (the Standard Bank of British South Africa) and the Credit Agricole Bank of India (translated in 1911) Changed to: The Chartered Bank of India, Australia and China).
Standard Chartered Bank is an old bank established in 1853 under the charter of Queen Victoria (the original meaning of the word "Standard Chartered" in English).
In 1853, Standard Chartered Bank was established with the approval of the Queen of England. In 1858, Standard Chartered had already opened a branch in Shanghai, and later moved to No. 18 on the Bund (now a famous historical building). After 1949, except the Shanghai Branch, it was approved by the Chinese government as a "designated bank" to engage in foreign exchange business. It is one of the only two British banks in Shanghai that existed before China's reform and opening up.
*In 1858, Standard Chartered Bank opened its first branch in Calcutta, followed by Bombay and Shanghai. In the second year, the Hong Kong branch and the Singapore branch were established respectively.
*In the early 1900s, Standard Chartered became the first foreign bank allowed to operate in New York. Standard Bank opened in Port Elizabeth, South Africa in 1863.
* From the 1890s to the 1910s, Standard Bank opened many branches in Africa, but some were closed due to operating difficulties.
*In 1957, Standard Chartered Bank acquired Eastern Bank, thus gaining its branches in Aden (Yemen), Bahrain, Beirut, Cyprus, Lebanon, Qatar and the United Arab Emirates.
*By the mid-1950s, Standard Bank had approximately 600 branches and offices in Africa.
*In 1965, after its merger with the former Bank of British West Africa, its network was fully expanded. The British West African Bank has branches in Nigeria, Ghana, Sierra Leone, Cameroon and The Gambia.
*In 1969, Standard Bank and Standard Chartered Bank merged to form Standard Chartered PLC. Standard Chartered subsequently acquired Britain's Hodge Group and the Wallace Brothers Group. After the establishment of Standard Chartered Stock Exchange, its branches spread across Europe, Argentina, Canada, Panama, Nepal and the United States. Standard Chartered acquired three U.S. banks, including the Union Bank of California, giving it access to Brazil and Venezuela. In 1986, Lloyds Bank of the United Kingdom attempted to acquire Standard Chartered, but it was ultimately rescued by Pao Yukang and Qiu Teck Puat. However, only the Qiu family still holds shares. On March 28, 2006, Singapore's state-owned investment company Temasek Holdings announced that it would acquire 152 million shares of Standard Chartered Bank from Khoo Teck Puat Heritage Trust, accounting for 11.55% of Standard Chartered's equity, and become Standard Chartered's major shareholder. In the 1990s, Standard Chartered continued to expand its network, opening new branches in Vietnam, Cambodia, Iran, Tanzania and Myanmar in 1990, 1992, 1993 and 1995.
On September 7, 2015, it was reported that Standard Chartered Bank was considering cutting 1/4 of its senior positions in order to reverse losses. This was one of the measures taken by Bill Winters, CEO of the bank, to reverse the two-year profit decline trend. First, Standard Chartered’s business focuses on emerging markets.