Standard Chartered announces plan to sell wealth and retail business in Bangladesh

Amid discussions in the banking sector about the closure of retail operations, Standard Chartered today announced its intention to explore the sale of its wealth and retail banking business in Bangladesh, as it continues to sharpen its focus on business and client segments where it has the greatest scale and most differentiated client proposition.

The British multinational bank, which has been operating in Bangladesh for 120 years, said it aims to sharpen its focus on corporate and investment banking.

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Standard Chartered said the announcement will not have any immediate impact on retail clients and staff, and that it will continue to operate as usual in the run-up to any divestment.

This move follows the group’s strategic focus on cross-border and affluent clients, as reaffirmed at its full-year 2025 financial results and May 2026 investor event, the bank said in a statement.

Any potential transaction remains subject to regulatory approvals, it said.

Enamul Huque, chief executive officer of Standard Chartered Bangladesh, said: “We are sharpening our strategic focus in Bangladesh to concentrate on areas where our global footprint creates the greatest impact — particularly international trade, cross-border capital flows and infrastructure financing. Bangladesh remains a vital pillar of our global network and our commitment to driving its long-term economic growth is as strong as ever.”

He said, subject to the overall deal process and regulatory approvals, the transition of the Wealth & Retail Banking business is anticipated to occur over approximately 18 to 24 months.

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“Throughout this period, client service remains our highest priority. Operations will continue business as usual and we will work closely with our clients to ensure a seamless transition with minimal disruption,” said Standard Chartered.

The foreign bank said it also remains committed to supporting its impacted colleagues in the fairest, most transparent and professional manner. “The wellbeing of our colleagues is a key consideration in the deal process.”

In recent weeks, top executives of private banks, including Pubali Bank, Mutual Trust Bank (MTB), BRAC Bank and City Bank, confirmed that they have begun preliminary talks with Standard Chartered Bangladesh about taking over the foreign lender’s retail business.