Standard Chartered has maintained sustained pattern of growth in the past few years, thanks to the bank’s investments in the Middle East and Africa region especially during the crisis from 2007 to 2009, according to a senior official at the bank.
Mark Devadason, Group Head of Regions Corporate Affairs, told a select group of media during luncheon meeting at the Capital Club that bank’s focus on core business and continued expansion in Bahrain and other countries of the Middle East and Africa proved as a catalyst to the growth patterns.
“The group had reported strong financial performance in 2009 as result of continued investments in products, services with focus on oil and gas sectors. The focus on core markets and added products capability served as major drivers behind the growth of the bank,” he said.
Talking about bank’s commitment he said that bank’s approach to work hand-in-hand with communities where bank operates would continue to be a hallmark of bank’s strategy. “Standard Chartered ‘Here for Good’ statement is self explanatory as Standard Chartered will remain committed to the region,” he added.
Mark said that investing in people would also continue to create more jobs across the region. “As a group the number of employees increased more than three-folds from 25000 to 85000 in the past 10 years, which speaks volume of Standard Chartered ability as a job provider in the countries where it operates,” he said.