Dedicated 'SME Banking Centre' inaugurated by Nigel Jones, CEO Standard Chartered UAE
Standard Chartered, a leading international bank in the UAE, has today opened Dubai's first dedicated SME Banking Centre in Jebel Ali. Officially inaugurated by Nigel Jones, CEO of Standard Chartered UAE, Mr. Ibrahim Al Janahi, Senior Vice President, Commercial Sales, Jafza and Owen Belman, Head of Consumer Banking, Standard Chartered UAE and Oman, the new Centre heralds the Bank's next phase of its strategy to further grow and develop this key market segment.
"Standard Chartered is a leading player and has acquired a sizeable market share in the SME sector in the UAE in just under three years, and our customer portfolio has grown by more than 400 per cent in that period," said Nigel Jones, CEO of Standard Chartered UAE.
"With the SME market accounting for up to 90 per cent of businesses in most worldwide economies, we've identified it as a continuous growth sector in the UAE. Our ambition in opening Dubai's first SME Banking Centre is to capitalise on this growth, strengthen our established presence and offer our customers a wider range of products and services to facilitate their own accelerated expansion."
Jebel Ali - site to more than 6,000 businesses and the prominent leading free-zone in the emirate's economic landscape - was the preferred strategic home for the Standard Chartered SME Banking Centre, due to the Bank's large customer presence and the potential to develop the business further in the area.
"As one of the leading and fastest-growing free zones in the world, Jafza has firmly established itself as the international business hub of the Middle East," said Mrs Salma Hareb, CEO Jafza and Economic Zones World.
"We are committed to focusing on long-term customer relationships, providing creative and innovative solutions for global industrial investors, and fostering alliances with them. With the addition of the SME Banking Centre, Jebel Ali becomes increasingly attractive to new businesses."
Standard Chartered's strong growth in the SME market has been achieved by capitalising on its global capabilities and experience combined with its deep local market expertise to offer an unparalleled product mix. This includes the award-winning 'Straight2Bank' - an online banking platform for all business needs that can be accessed twenty four hours a day.
Owen Belman, Head of Consumer Banking, Standard Chartered, UAE and Oman said: "Our success comes down to having an innate understanding of our clients' needs. This first-of-a-kind dedicated SME banking centre in Jebel Ali will build on our established presence within the SME market, and ensure our valued customers have access to the right advice provided by the right people."
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Standard Chartered - leading the way in Asia, Africa and the Middle EastStandard Chartered PLC is listed on both the London Stock Exchange and the Hong Kong Stock Exchange and is consistently ranked in the top 25 among FTSE-100 companies by market capitalisation.
Standard Chartered has a history of over 150 years in banking and operates in many of the world's fastest-growing markets with an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.
As one of the world's most international banks, Standard Chartered employs almost 60,000 people, representing over 100 nationalities, worldwide. This diversity lies at the heart of the Bank's values and supports the Bank's growth as the world increasingly becomes one market.
With strong organic growth supported by strategic alliances and acquisitions and driven by its strengths in the balance and diversity of its business, products, geography and people, Standard Chartered is well positioned in the emerging trade corridors of Asia, Africa and the Middle East.
Standard Chartered derives over 90 per cent of profits from Asia, Africa and the Middle East. Serving both Consumer and Wholesale Banking customers worldwide, the Bank combines deep local knowledge with global capability to offer a wide range of innovative products and services as well as award-winning solutions.
Trusted across its network for its standard of governance and corporate responsibility, Standard Chartered takes a long term view of the consequences of its actions to ensure that the Bank builds a sustainable business through social inclusion, environmental protection and good governance.
Standard Chartered is also committed to all its stakeholders by living its values in its approach towards managing its people, exceeding expectations of its customers, making a difference in communities and working with regulators.
For more information on Standard Chartered, please log on to www.standardchartered.com
For further information, please contact:
Patricia Bentham
Head of Corporate Affairs, Standard Chartered Bank, UAE and Oman
Tel: +971 (0) 4 5070548
Fax: +971 (0) 4 3594174
Mobile: +971 (50) 3174665
Email: Patricia.Bentham@ae.standardchartered.com
© Press Release 2007
