Standard Chartered group to exit wealth & retail banking business in SL
- CNL Reporter
- March 27, 2025
- Banking and Financial
- Standard Chartered group to exit wealth & retail banking business in SL
- 0 Comments
Standard Chartered Group, as a part of its strategy, said it is exploring the sale of its Wealth & Retail Banking (WRB) business in Sri Lanka, subject to regulatory approvals.
In an announcement to clients, Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri shared the move is in line with the commitment to concentrate resources where the Group has the most distinctive client proposition.
“Please be assured that we will continue to serve you as usual during the transition, which we expect to take 16-18 months and is subject to regulatory approvals,” he said. “Your deposits and monies remain safe, and you can continue to perform banking transactions as normal,” he added.
Thewarathanthri stressed Standard Chartered is committed to managing the process with its key stakeholders to minimise any disruption. Standard Chartered said it continue to share updates on any relevant developments during the transition.
