Standard Chartered Short Form
Standard Chartered short form is SC.
Standard Chartered is a British multinational banking and financial services company headquartered in London. It operates a network of more than 1,200 branches and outlets (including associates) across more than 70 countries. SC employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services.
It was founded in 1969 by a group of European banks to promote trade with countries outside the European Economic Community. In this regard, it established its first overseas branches in Karachi (1973) and Singapore (1974). The bank expanded to numerous other markets but most notably in North America. It acquired Marine Midland Bank (1996), First Caribbean International Bank (1999) a United States-based bank. The consumer finance company, Beneficial Finance (2002). It formed a joint venture with American Express in 1996 known as Standard Chartered Bank Card. And sold its card division to standard chartered bank card (which has been renamed MasterCard International Inc) in May 2008. In January 2009, it divested from parts of its American investment bank to form Standard Chartered Bank Americas.
The bank was affected by the financial crisis of 2007–08. When it took a US$6 billion loan from the Bank of England, due to its high exposure in fast-growing economies such as India and South Korea. In 2015 the U.S. Justice Department announced that Standard Chartered Bank had agreed to pay a $340 million fine for violating the Trading With The Enemy Act.
It has branches in Pakistan, Singapore, North America, China, Japan, Turkey, the United Arab Emirates, and India.
In 2012 Standard Chartered is ranked as the 29th largest bank in the world. According to Bloomberg’s list of “The World’s Top 50 Banks” and in 2010 it was ranked as 57th on the Fortune Global 500. In 2015, Forbes reported that it is the 73rd largest public company in the world.