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SCB to divest wealth, retail banking in SL to focus more on institutional business
Daily FT
|March 26, 2025
GLOBAL giant, Standard Chartered Bank (SCB) is to divest its wealth and retail business in Sri Lanka and focus more on corporate and institutional clients.
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The move is part of the Group's strategy to concentrate resources and sharpen focus on markets that provide a distinctive proposition and necessary scale.
SCB Sri Lanka recently updated its colleagues and customers of its intention to explore the sale of the wealth and retail banking (WRB) business in Sri Lanka, subject to regulatory approvals.
"Our WRB business in Sri Lanka is an excellent franchise and it will continue to operate on a business-as-usual basis until completion of the sale and migration to a buyer which will occur only after regulatory approval," a spokesperson for the SCB Sri Lanka said when contacted.
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