Standard Chartered Opens Exclusive Branch for High Net Worth Individuals in Mumbai to Expand India Operations

Standard Chartered Opens Exclusive Branch for High Net Worth Individuals in Mumbai to Expand India Operations

Standard Chartered Bank launched a specialised branch in Mumbai on Tuesday, focusing on serving affluent and high-net-worth individuals (HNWIs). The move is part of the bank's strategy to strengthen its presence in India by targeting a rapidly growing segment of wealthy clients. With this new branch, Standard Chartered aims to enhance its services and meet the unique financial needs of India’s affluent class.

This venture comes as the bank shifts its focus toward the high-net-worth customer base, which presents significant growth opportunities. According to bank estimates, India currently has about 750,000 affluent individuals, who form the core target group for this initiative. The new branch, located in the financial capital, will offer a variety of personalized services ranging from wealth management to exclusive banking solutions designed for this high-end segment.

Standard Chartered has been present in India for over 160 years and operates one of the largest international banking networks in the country. The introduction of a specialised branch for affluent customers aligns with the bank’s broader efforts to capture more market share in India's financial services landscape. As the number of high-net-worth individuals continues to grow, particularly in major cities like Mumbai, Standard Chartered seeks to provide tailored solutions that cater to their sophisticated banking needs.

Through this dedicated facility, the bank plans to offer a range of products and services including investment advisory, portfolio management, and exclusive credit solutions. By doing so, Standard Chartered hopes to differentiate itself in the competitive market and build deeper relationships with India’s wealthy clientele.

Sunil Kaushal, CEO of Standard Chartered Bank for India and South Asia, commented on the development, stating that this new initiative represents the bank’s commitment to evolving with the changing dynamics of wealth in India. "With our strong global expertise and local insights, we are well-positioned to provide the best possible services to our affluent clients in India," he added.

This specialized branch is expected to drive the bank's growth in India as it focuses on expanding its footprint in the wealth management space, which has seen significant demand in recent years. As part of its growth strategy, Standard Chartered is also planning to launch more such branches in other key cities across the country, positioning itself as a leader in serving high-net-worth customers.