StanChart plans retail banking exit in Bangladesh

Multinational bank Standard Chartered is seeking to sell its retail banking and credit card business in Bangladesh, according to multiple sources at Bangladesh Bank and the banks involved.
The 173-year-old lender has already held separate meetings with two of the country’s leading private banks – BRAC Bank and City Bank – which have expressed interest in acquiring the portfolio.
Senior officials from Standard Chartered’s headquarters and regional office have also briefed the Bangladesh Bank governor on the matter.
No formal agreement has yet been reached, while officials of the interested banks declined to comment on the record at this stage.
Sources said Standard Chartered first indicated its intention to wind down its retail banking operations in Bangladesh in July this year. 
Several local banks subsequently held discussions with the foreign lender, but BRAC Bank and City Bank are currently considered the frontrunners.
Separate meetings have already taken place between Standard Chartered and the two local banks, the sources said.
The move follows a similar decision by HSBC, which announced plans in mid-2025 to wind down its retail banking operations in Bangladesh. 
Earlier, in 2005, American Express Bank also withdrew from the country.
Arief Hossain Khan, executive director and spokesperson of Bangladesh Bank, confirmed that the central bank was aware of the plan but said no decision had yet been taken on the matter.

A City Bank official, speaking on condition of anonymity, confirmed that a preliminary meeting had been held but stressed that nothing had been finalised.
The official said City Bank expressed interest after learning of Standard Chartered’s plan to sell its retail business. 
City Bank previously expanded its card business through American Express, but any acquisition of Standard Chartered’s portfolio would require multiple stages of regulatory approval and could be a lengthy process.
In Bangladesh, Standard Chartered’s retail banking portfolio currently has deposits of approximately Tk16,000 crore against loans of around Tk10,000 crore.
The bank offers both conventional and Islamic banking services under its Saadiq brand, along with debit and credit cards.
Its retail products include savings and current accounts, fixed and foreign currency deposits, premium and rewards-based credit cards, personal, auto and home loans, and other lending products.
Under its Shariah-compliant Saadiq brand, it provides Islamic deposit and current account products as well as Islamic credit cards.
It also operates a specialised “Swadeshi Banking” service for non-resident Bangladeshis, allowing them to save and invest in government bonds in the country.
As part of its global strategic restructuring, Standard Chartered has previously exited local banking operations in Angola, Cameroon, The Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe.
In Tanzania and Ivory Coast, it scaled back consumer, private and business banking while retaining its corporate and institutional banking operations. 
It later sold its wealth management and retail banking business in Sri Lanka.