The backbone of its all-around network, advisable forex administration and a advanced ambit of all-embracing barter casework put the British coffer able-bodied advanced of others
In 2020, the year of the pandemic, Standard Chartered logged in accumulation of Tk1,367.5 crore — the accomplished yet in its 116 years of operation in Bangladesh and an access of 6.6% from the year before.
No added coffer could calculation as abundant accumulation as the British bank; Dutch-Bangla Coffer (DBBL) recorded the second-highest accumulation but it was beneath than bisected that of Standard Chartered.
Among the accepted banks, afterwards DBBL, Standard Chartered’s British analogue HSBC (Tk540.5 crore), Eastern Coffer (Tk418 crore) and Brac Coffer (Tk402.6 crore) angled off the top bristles spots.
And it was aloof not in 2020 that Standard Chartered’s accumulation towered over its competitors though. In 2019 too, they logged a accumulation of Tk1,282.6 crore, up 14.3% year-on-year.
This begs the question: has Standard Chartered absurd a abracadabra formula; or is it bottomward to the arduous backbone of its cast name?
Also Read – Bangladesh is a aloft earner for Standard Chartered Bank
Commission is the key
Of the bank’s absolute operating assets of Tk2,740.9 crore aftermost year, a big block (Tk725.7 crore) came from commission, barter and allowance fees.
The coffer earns agency and fee assets from a assorted ambit of services, such as operations, annual maintenance, careful services, acclaim agenda renewal, and so on.
In 2020, it fabricated Tk373.07 crore in agency income, which included consign assets of Tk64.87 crore and careful account assets for banal barter at Tk7.86 crore, according to its cyberbanking statements.
Exchange assets includes all assets and losses from adopted bill transactions, and SCB becoming Tk352.6 crore from this antecedent aftermost year.
Only Brac Coffer came abutting to analogous the London-headquartered bank’s accomplishment in accepting commission, barter and allowance fees at Tk684.6 crore.
DBBL fabricated Tk172.6 crore from commission, barter and allowance fees, HSBC fabricated Tk410.6 crore, and Eastern Coffer fabricated Tk306.7 crore in 2020.
“The backbone of Standard Chartered’s network, the adeptness to abutment audience in assorted countries through barter and advance corridors and the absolute artefact capabilities helped the Asia-focused coffer accomplish abundant adopted barter and agency assets aftermost year from its Bangladesh operations,” said CEO Naser Ezaz Bijoy.
Standard Chartered operates a arrangement of added than 1,200 branches and outlets, including subsidiaries, assembly and collective ventures, beyond added than 70 countries.
Also Read – Bproperty with SCB to accommodate easier home accommodation solutions
“Moreover, our connected characteristic role in alignment abiding multi-currency activity accounts at aggressive costs additionally helped us to acquire allusive fee income, in accession to our acceptable sources of fees from retail banking,” Bijoy added.
Retail banking, which is the bread-and-butter of its competitors in Bangladesh, did not let Standard Chartered bottomward either.
The British coffer operates 24 branches in Bangladesh through which it provides retail cyberbanking services.
Of its retail cyberbanking activities, it fabricated Tk352.7 crore from claimed credit, Tk5.1 crore from loans adjoin property, Tk10.97 crore from auto loans, Tk107.6 crore from acclaim cards, Tk59.3 crore from overdraft, Tk113.56 crore from abode architecture loans, and Tk33.57 crore from Diminishing Musharaka beneath its Islamic cyberbanking window.
The coffer logged Tk1,519.1 crore as net absorption assets in 2020, bottomward 15.4% from a year earlier.
In comparison, DBBL, which has 209 branches, registered Tk1,390 crore from net absorption income.
HSBC, which has eight branches in Bangladesh, acquaint Tk835.9 crore as net absorption income, while Eastern Coffer acquaint Tk605.2 crore and Brac Coffer fabricated Tk1,352.8 crore.
Standard Chartered additionally fabricated cogent assets from investments, which added than angled to Tk496.1 crore.
The coffer invested heavily in 91-day Treasury bills aftermost year: from Tk538.7 crore in 2019 to Tk1,629.9 crore.
Minimizing chargeless spending
The abutting move for Standard Chartered is to accumulate its absolute operating costs low, which for 2020 was Tk672.4 crore.
“Productivity and adeptness accept consistently been key focus areas for Standard Chartered Bank. In 2020, we activated the accessible accommodation due to depressed business volumes during the aboriginal appearance of the communicable to assignment on automation, apparatus learning, abstracts analytics and to advance activation of agenda channels by incentivising volumes abroad from artery and mortars,” Bijoy said.
In comparison, DBBL’s absolute operating costs stood at Tk1,610.7 crore, HSBC’s at Tk544.1 crore, Eastern Bank’s at Tk667.2 crore and Brac Bank’s at Tk2,053.3 crore.
Standard Chartered additionally took an environment-friendly accommodation in abbreviation the use of cardboard and convalescent activity efficiency, Bijoy said, adding: “Many initiatives helped us to absorb the adorable amount to assets ratio.”
Also Read – SCB offers 13.5C for accretion initiatives in acknowledgment to Covid-19
Good governance
At the end of 2020, Standard Chartered Bangladesh’s loans and advances stood at Tk21,622.8 crore, bottomward 13.9% year-on-year.
In 2020, clandestine area acclaim advance averaged 8.9% in adverse to 10.4% a year earlier, as afraid businesses went on self-preservation mode, putting their advance affairs and businesses on authority indefinitely, according to abstracts from the Bangladesh Bank.
SCB too played it safe with its lending activities.
Its absence loans at the end of 2020 accounted for 1.62% of its absolute outstanding loans, bottomward from 1.67%. At the end of aftermost year, the cyberbanking sector’s absence accommodation arrangement was 7.7%.
Its loan-deposit arrangement came bottomward from 62% to 47.2%, which is way lower than the beam of 85%.
The bank’s deposits admitting swelled: it stood at Tk31,175.9 crore, up 11.2% year-on-year.
It additionally kept accessories over and aloft what was appropriate by the authoritative anatomy in apprehension of the billow in bad loans already the accommodation adjournment adeptness is aerial in 2021.
As per the axial coffer regulations, banks accept to accumulate 0.5% to 5% in accessories adjoin accepted class loans, 20% adjoin classified loans of abominable class and 50% adjoin classified loans of ambiguous category. It is set at 100% adjoin classified loans in the bad or accident category.
But for 2020, banks could adjourn the accessories as no accommodation was accustomed to be classified by the BB with the appearance to accouterment borrowers with some breath allowance from the brusque bread-and-butter claiming brought on by the all-around coronavirus pandemic.
Standard Chartered kept Tk478.5 crore as accessories adjoin classified loans in 2020, up 36.1% year-on-year.
Also Read – SCB launches country’s aboriginal carbon-neutral acclaim card
2021 may not be so affectionate to SCB
“In a year with so abundant adversity, this is absolutely a acceptable aftereffect for us,” Bijoy told Dhaka Tribune.
But the coffer may accept a difficult time replicating this success in 2021.
“In 2020, we got the account of some ample affairs which originated in 2019 and assured in 2020. However, audience accept been alert with new investments over the aftermost 18 months due to uncertainties appearing from the pandemic,” the CEO explained.
He said due to the low appeal for credit, cogent surplus liquidity, and authoritative headwinds on cyberbanking sector’s adeptness to advance acquirement drive — which is acute in an animated acclaim accident ambiance with the abiding appulse of Covid-19 — the adeptness to echo the achievement of 2020 in 2021 will be abundantly impaired.
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