Standard Chartered to exit from retail banking business

Dhaka: Standard Chartered Bank is considering selling its retail banking and credit card operations in Bangladesh, with BRAC Bank and City Bank among the local lenders holding discussions over a potential acquisition, according to officials familiar with the matter.

The discussions remain preliminary, and no agreement has been reached. The proposed transaction would involve the retail portfolio rather than Standard Chartered’s entire Bangladesh operation. The bank is expected to retain its corporate and institutional banking activities.

BRAC Bank and City Bank have separately held initial meetings with Standard Chartered about the possible purchase. Any deal would require valuation, due diligence and regulatory approvals before completion.

Standard Chartered’s retail business includes deposits, consumer loans, credit cards and Islamic banking services through its Saadiq offering. The bank currently operates 18 branches and 70 self-service terminals in Bangladesh.

The potential exit follows a broader international strategy by Standard Chartered to reduce parts of its consumer banking footprint while concentrating resources on corporate, institutional and wealth-focused businesses. The group has previously withdrawn or reduced retail operations in several overseas markets.

Standard Chartered Bangladesh has not confirmed a sale. Its website continues to list retail, card and Islamic banking products, while the bank says it has maintained a presence in Bangladesh for more than 120 years.