Standard Chartered’s ‘Tough Years’ in India Are Behind It
- Bank wants to grow consumer business in India: South Asia CEO
- Loan impairments in the country had dragged on profit
Investing in Asean's Infrastructure
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Standard Chartered Plc is over the worst of its challenges in India that led to loan writedowns and dragged on profit, according to the lender’s South Asia head.
The London-based bank is now focusing on expanding its consumer and corporate businesses in the country, where it has operated since 1858, Ajay Kanwal, the company’s chief executive officer for South Asia and Asean, said in an interview with Bloomberg Television’s Haslinda Amin from Singapore. The lender has hired about 800 people for its Indian retail business this year, he said.