Hat trick for Standard Chartered India

Standard Chartered Bank consolidates its position as India's largest international bank with acquisition of Bank of Bahrain and Kuwait.

By Sameera Anand

March 14, 2006

Standard Chartered Bank, IndiaÆs largest international bank with a branch network of 81 branches across 31 Indian cities, has announced the acquisition of the Indian operations of BahrainÆs largest bank, Bank of Bahrain and Kuwait. This adds another two branches to the Standard Chartered network in India.

In financial terms the acquisition is quite small for Standard Chartered India, which has a domestic balance sheet of Rs.373 billion. Bank of Bahrain and Kuwait has a balance sheet size of Rs.6 billion.

However, the bank plans to leverage its acquisition to play a larger role in the increasing trade links between Kuwait and India. Standard Chartered has received in principle approval for the takeover from IndiaÆs...

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