report on standard chartered

7/28/2019 report on standard chartered

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MULTINATIONAL ORGANIZATIONSTANDARD CHARTERED BANK


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Introduction:

Standard Chartered (LSE:STAN,SEHK:2888,NSE:STAN) is a Britishmultinationalbanking andfinancial servicescompany headquartered inLondon,United Kingdom. It operates a network of over1,700 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70countries and employs around 87,000 people. It is auniversal bankwith operations in consumer,corporate and institutional banking, and treasury services. Despite its UK base, around 90% of its profitscome fromAfrica,Asiaand theMiddle East.

Standard Chartered has a primary listing on theLondon Stock Exchangeand is a constituent of theFTSE100 Index. It had amarket capitalisationof approximately 33 billion as of 23 December 2011, the 13th-largest of any company with a primary listing on the London Stock Exchange.[2]It has secondary listingson theHong Kong Stock Exchangeand theNational Stock Exchange of India. Its largest shareholder istheGovernment of Singapore-ownedTemasek Holdings

Standard Chartered is the world's leading emerging markets bank headquartered in London. It offers bothconsumer and wholesale banking services.

The bank employs 30,000 people in over 500 locations in more than 50 countries including the AsiaPacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

The world-wide IT infrastructure features 5,000 servers and 35,000 desktops. IT supports 600 differentapplications.

says John Meakin, Group Head of Information Security, Standard Chartered Bank:"Our aim is to achieve the right level of security on our global networks. This means a clear and accurateunderstanding of what needs patching and ensuring that it remains reliably patched. We rely uponQualysGuard to underpin this process."

"Being able to report on remediation and response plans has also helped us meet strict financialcompliance requirements. QualysGuard reports give me and my security team an instant overview of theoverall level of health of security in my organisation."
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Name:

The name Standard Chartered comes from the names of the two banks from which it was formed bymerger in 1969:The Chartered Bank of India, Australia and China, andStandard Bank of British SouthAfrica.[6]

History:

Standard Chartered Bank was formed in 1969 through the merger of twoseparate banks, the Standard Bank of British South Africa and the CharteredBank of India, Australia and China.

These banks had capitalised on the expansion of trade between Europe, Asiaand Africa.

The Chartered Bank

The Chartered Bank was founded by James Wilson following the grant of a Royal Charter by QueenVictoria in 1853.

The bank opened in Mumbai (Bombay), Kolkata and Shanghai in 1858, followed by Hong Kong andSingapore in 1859.

The traditional trade was in cotton from Mumbai, indigo and tea from Kolkata, rice from Burma, sugarfrom Java, tobacco from Sumatra, hemp from Manila and silk from Yokohama.

The bank played a major role in the development of trade with the East following the opening of the SuezCanal in 1869 and the extension of the telegraph to China in 1871.

In 1957 Chartered Bank bought the Eastern Bank, together with the Ionian Bank's Cyprus Branches andestablished a presence in the Gulf.

The Standard Bank

The Standard Bank was founded in the Cape Province of South Africa in 1862 by John Paterson, andstarted business in Port Elizabeth in the following year.

The bank was prominent in financing the development of the diamond fields of Kimberley from 1867. Itlater exte nded its network further north to the new town of Johannesburg when gold wasdiscovered there in 1885.

The bank expanded in Southern, Central and Eastern Africa and had 600 offices by 1953.

In 1965, it merged with the Bank of West Africa, expanding its operations into Cameroon, Gambia,Ghana, Nigeria and Sierra Leone.
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In 1987 Standard Chartered Bank sold its stake in the Standard Bank, which now operates as a separateentity

1969 to 2000

Standard Chartered Bank Building in Hong Kong

Both banks acquired other smaller banks along the way and spread their networks further. In 1969, thebanks decided to merge,[6]and to counterbalance their existing network by expanding in Europe and theUnited States, while continuing their expansion in their traditional markets in Asia and Africa. In 1986,Lloydsmade a hostile takeover bid for the Group.[7]The bid was defeated; however, it spurred StandardChartered into a period of change, including a series of divestments notably in the US and South Africa.

In 1987, Standard Chartered sold its remaining interests in the South African bank, and since then theStandard Bank Grouphas been a separate entity. In 1992, scandal broke when banking regulators chargedseveral employees of Standard Chartered in Mumbai with illegally diverting depositors' funds to speculatein the stock market. Fines by Indian regulators and provisions for losses cost the bank almost350 million, at that time fully a third of its capital. In 1994, London's Sunday Times reported that anexecutive in the bank's metals division had bribed officials in Malaysia and the Philippines in order to win

business. The bank, in a statement on 18 July 1994, acknowledged that there were "discrepancies inexpense claims [that] ... included gifts to individuals in certain countries to facilitate business, a practicecontrary to bank rules".[8]

In 1997, Standard Chartered sold its metals division toToronto-basedScotiabankforUS$26 million. In1994, the Hong Kong Securities and Futures Commission found Standard Chartered's Asian investmentbank to have illegally helped to artificially support the price of new shares they had underwritten for sixcompanies from July 1991 to March 1993. The bank admitted the offense, apologized and reorganized its
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brokerage units. The commission banned the bank from underwriting IPOs in Hong Kong for ninemonths. Standard Chartered's Asian investment banking operations never recovered, and in 2000 the bankclosed them down.[9]

In the late 1990s, a business consortium purchased a 35% stake to fend off Lloyds. A member of thisconsortium wasMalaysian-born property tycoonKhoo Teck Puat, who purchased 5% of the bank's

shares, which he later increased to 13.4%.

2000 to 2010

In 2000, Standard Chartered acquiredGrindlays BankfromANZ, increasing its presence in privatebanking and further expanding its operations in India and Pakistan. Standard Chartered retainedGrindlays' private banking operations in London andLuxembourg, as well as the subsidiary inJersey, allof which were integrated into its own private bank. This now serves high net worth customers in HongKong,Dubai, andJohannesburgunder the name Standard Chartered Grindlays Offshore FinancialServices.

In India, Standard Chartered integrated most of Grindlays' operations, becoming the largest foreign bankin that country. Ethics issues and financial losses triggered turmoil; the bank went through three CEOs inthree years: Malcolm Williamson was replaced in 1998 byRana Talwar, who was unseated by MervynDavies in 2001. By the time Davies took over, his predecessors had systematically sold off the banksholdings in continental Europe and the Americas. Former CEO Talwar has claimed Standard Chartered'stroubles over the years is due to its failure to hire local talent. TheIndian-bornCitigroupInc. veteranbecame the bank's first non-British CEO when he was appointed in 1998.[9]

Leading to the incorporation ofStandard Chartered (Hong Kong)on 1 July 2004, theLegislative Councilof Hong Kongamended Legal Tender Notes Issue Ordinance. The amendment replaced StandardChartered Bank with its newly incorporated subsidiary - Standard Chartered Bank (Hong Kong) Ltd - asone of thenote-issuing banks in Hong Kong.[10]The same year, Standard Chartered Bank andAstraInternational(an Indonesian conglomerate, a subsidiary ofJardine Matheson Group) took overPermataBankand in 2006, both shareholders increased their joint ownership to 89.01%. With 276branches and 549 ATMs in 55 cities throughout Indonesia, PermataBank has the second largest branchnetwork in Standard Chartered organization.[11]

On 15 April 2005, the bank acquiredKorea First Bank, beatingHSBCin the bid.[12]The bank has sincerebranded the branches as SC First Bank. Standard Chartered completed the integration of itsBangkokbranch and Standard Chartered Nakornthon Bank in October, renaming the new entityStandard CharteredBank (Thailand).[13]Standard Chartered also formed strategic alliances with Fleming Family & Partnersto expand private wealth management in Asia and the Middle East, and acquired stakes inACBVietnam,Travelex,American Express Bank(Bangladesh) andBohai Bank(China). The largest shareholder, KhooTeck Puat, died in 2004; and two years later, on 28 March 2006, theSingaporestate-owned privateinvestment firm,Temasek, became the bank's largest shareholder, when it bought the 11.55% stake heldby the estate of billionaireKhoo Teck Puat.[3][4][5]
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Standard Chartered Bank China in Guangzhou

On 9 August 2006,Standard Charteredannounced it had acquired an 81% shareholding in theUnionBank of Pakistanin a deal ultimately worth$511 million. This deal represented the first acquisition by aforeign firm of a Pakistani bank and the merged bank,Standard Chartered Bank (Pakistan), is nowPakistan's sixth largest bank. On 22 October 2006, Standard Chartered announced that it had receivedtenders for more than 51% of the issued share capital of Hsinchu International Bank (Hsinchu),

established in 1948 inHsinchu, Taiwan.[14]

Standard Chartered, which had first enteredTaiwanin 1985,acquired majority ownership of the bank. Prior to the merger, Hsinchu was Taiwan's seventh largestprivate sector bank by loans and deposits as of 30 June 2006, but had suffered extensive losses ondefaulted credit card debt. Standard Chartered merged its existing three branches with Hsinchu's 83branches, and delisted Hsinchu International Bank, changing the bank's name to Standard Chartered Bank(Taiwan) Limited; Standard Chartered is the largest foreign bank in Taiwan in terms of branch network.In 2007, Standard Chartered opened its Private Banking global headquarters inSingapore.[15]

On 23 August 2007, Standard Chartered entered into an agreement to buy a 49% share of an Indianbrokerage firm (UTI Securities) for$36 million in cash from Securities Trading Corporation of India Ltd.,with the option to raise its stake to 75% in 2008, and, ifboth partners were in agreement, to 100% by2010.[16]UTI Securities offers brokering, wealth management and investment banking services across 60

Indian cities. On 29 February 2008, Standard Chartered PLC announced it had received all the requiredapprovals leading to the completion of its acquisition of American Express Bank Ltd (AEB) from theAmerican Express Company(AXP). The total cash consideration for the acquisition isUS$823 million.[17][18][19][20][21]

On 13 November 2008, Standard Chartered Bank (Hong Kong) Limited, entered into an agreement toacquire 100% of Cazenove Asia Limited, a leading Asian equity capital markets, corporate finance andinstitutional brokerage business, from JPMorgan Cazenove.[22]

On 27 November 2009,Dow JonesFinancial News reported that Dubai will restructure its largestcorporate entity. Among international banks, Standard Chartered has one of the largest loan portfolios inthe Dubai market and the UAE as a whole, estimated to be$7.77 billion in total. This amounts to 4.2% of

Standard Chartered's total loans outstanding. Other impacted banks included HSBC, Barclays, and RBS.The bank stated that any impairment arising from this exposure would not be material.[23]

2010 to present
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Standard Chartered Bank Tower inPudong, Shanghai, People's Republic of China

Standard Chartered announced an agreement on 27 April 2010 to buy the African custody business fromBarclays PLC.[24]On 13 May 2010, Standard Chartered PLC launched the first-ever Indian DepositoryReceipt IDR offer[25]

On 17 June 2010, Standard Chartered Bank and theAgricultural Bank of China(ABC) strengthened theirstrategic partnership. Hong Kong has been identified as a potential pilot region for the two banks' co-operation journey. The two banks' declared aim is to co-operate to provide their corporate and individualcustomers with world class financial markets products. A joint co-operation committee will be formed byboth banks to drive the strategic direction of the partnership. The committee was to be co-chaired by Peter

Sands, CEO of Standard Chartered, and Zhang Yun, President of ABC.

[26]

In December 2010, StandardChartered was recognised as the Global Bank of the Year in The Banker's Bank of the Year 2010awards.[27]

Iran money laundering settlement

On 6 August 2012, the New York Department of Financial Services led byBenjamin LawskyaccusedStandard Chartered of hiding $250 billion in transactions involving Iran, labeling it a "rogue institution".The bank was ordered to appear and defend its actions, or risk losing its license to operate in thestate ofNew York. The New York Department of Financial Services (DFS) claimed to have documents showinga cover up of transactions allegedly used to fund terrorist groups in the Middle East.[28]

The next day, the share price bounced back almost 7%, after certain British politicians claimed the bulk ofthe accusations on the bank were from an "anti-British bias", as US authorities try to undermine London'sbanking sector, and blamedUS economic problemspartly on the UK.[29]

On 14 August, Lawsky announced that the New York Department of Financial Services (DFS) andStandard Chartered reached a settlement that allows the bank to keep its license to operate in New YorkState. According to the terms of the settlement, the bank agreed to pay a$340 million fine to DFS.[30]Thebank agreed to install a monitor to oversee the bank's money laundering controls for at least two years,and appoint "permanent officials who will audit the bank's internal procedures to prevent offshore money
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laundering".[30]The monitor will report directly to the DFS.[31]Lawsky's statement said "the parties haveagreed that the conduct at issue involved transactions of at least$250bn."[32]The bank issued a statementconfirming that a settlement with the DFS had been reached and that "a formal agreement containing thedetailed terms of the settlement is expected to be concluded shortly".[32]

Other US agenciesincluding theFederal Reserve, theFederal Bureau of Investigation, theTreasury

Department, and theJustice Departmenthad also begun investigations into the laundering allegationsand were reportedly taken off guard by the speed of the settlement.[30]The Treasury stated that its owninvestigation of Standard Chartered will continue.[33]Several financial analysts predicted that, due to itsstrong financial position, the bank would be able to easily cover the$340 million fine without having toraise extra capital.[33]

Senior management

Peter Sandsis the current chief executive of Standard Chartered. His total annual reward package is$4,142,000, consisting of$1,516,000 salary and a bonus of up to$2,626,000.[35]

Sponsorship

In September 2009 it was announced that Standard Chartered had agreed to become the main sponsor ofLiverpool Football Clubfor the period between July 2010 and the end of the 201314 footballseason.[36][37]The deal was reported to have a total value of 80 million.[36][37]

Notable employees

John Major, who served as prime minister of the United Kingdom from 1990 to 1997, was employed byStandard Chartered from May 1965, when he joined them as an executive.[38]He was transferred toNigeriain 1967, and worked for the bank at home and abroad until he was elected toparliamentat the1979 general electionasConservative Party MPforHuntingdon.

Standard Chartered locations worldwide:

Standard chartered are one of the world's most international banks, with over 1,700 branches, offices andoutlets in 68 countries across the globe

Reports and reviews:

We're committed to achieving a positive socio-economic impact, while also maintaining our strongfinancial performance.
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andard_Chartered#cite_note-WSJ-33http://en.wikipedia.org/wiki/USDhttp://en.wikipedia.org/wiki/Standard_Chartered#cite_note-WSJ-33http://en.wikipedia.org/wiki/Standard_Chartered#cite_note-NYT-30http://en.wikipedia.org/wiki/US_Justice_Departmenthttp://en.wikipedia.org/wiki/US_Treasury_Departmenthttp://en.wikipedia.org/wiki/US_Treasury_Departmenthttp://en.wikipedia.org/wiki/Federal_Bureau_of_Investigationhttp://en.wikipedia.org/wiki/US_Federal_Reservehttp://en.wikipedia.org/wiki/Standard_Chartered#cite_note-BBC-32http://en.wikipedia.org/wiki/Standard_Chartered#cite_note-BBC-32http://en.wikipedia.org/wiki/USDhttp://en.wikipedia.org/wiki/Standard_Chartered#cite_note-31http://en.wikipedia.org/wiki/Standard_Chartered#cite_note-NYT-30


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We aim to have a sustainable business presence in the countries in which we operate, providing both apositive social and economic impact on our markets.

Sustainability Awards:

These awards recognise our commitment to operating in a sustainable way and supporting sustainableinitiatives and policies.

FT/IFC Sustainable Finance Awards 2012:

Sustainable Global Bank of the Year

Beyond Sport Awards 2012:

Corporate of the Year (Goal)

Euromoney Islamic Finance Awards 2012:


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Best Sukuk House

Football Business Awards 2012:

Best CSR Scheme Award for The Perfect Match

GBCHealth 2012 Business Action on Health Awards:

Community Investment (Seeing is Believing)

The Asset Triple A Islamic Finance Awards 2012:

Best Islamic Project Finance HouseAaj Tak Care Awards 2012:

Best in Health Care for Seeing is Believing and WASHE in IndiaAsia Pacific Young Business Conference Awards 2012:

CSR Leadership Award in MalaysiaAsia Responsible Entrepreneurship Awards 2012:

Health Promotion in Southeast Asia (Seeing is Believing)

Asian Confederation of Business, Outsourcing Leadership Awards 2012:

Best CSR practices in MalaysiaThe Asset Triple A Awards 2012:

Best SME Bank in Vietnam, Hong Kong and KoreaThe Banker Middle East Product Awards 2012:


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Best SME Internet Banking Best SME Foreign Exchange Service

Blue Dart - Star News Global CSR Awards 2012:

Best in Health Care in India (Seeing is Believing)Capital Outstanding Enterprise Awards 2012:

Outstanding SME Bank in Hong KongCeylon Chamber of Commerce 2012:

Best Corporate Citizen in Sri Lanka (Seeing is Believing)

China Banking Association 2012:

Best Practice of Social Responsibility Award Best Public Welfare and Charity Contribution Award

China CFO's Most Trusted Banks Awards 2012:

Best Cross-border Trade Settlement

CIO Asia Awards 2012:

Winning Project - Smart Card in ThailandDubai Chamber Awards 2012:

Dubai Chamber CSR Label Mohammed Bin Rashid Al Maktoum Business

HM Government Payroll Giving Quality Mark Awards 2012:


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Payroll Giving Platinum Award in the UKHong Kong ICT Awards 2012:

Certificate of Merit in Best Green ICT in Hong Kong

Korea Football League Awards 2012:

Appreciation Award for Contribution to Youth Football Development

Taiwan Academy of Banking and Finance Awards 2012:

HR Recognition in Taiwan Elite Award in Taiwan

The Asian Banker Excellence in Retail Financial Services Awards 2012:

Best Employee Engagement in Hong Kong

Banking services:

We combine global capabilities with deep local knowledge to provide innovative products and services tomeet the needs of our customers and clients.

CONSUMER BANKING:

Consumer BankingStandard Charted provides services for

Mortgages

Credit Cards


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Personal Loans

Auto Loans

Islamic Banking

Wealth Management products.In order to maximize customer convenience, they offer

24-hour Phone Banking eStatements

SMS Banking

ATM Cards and VISA Debit Cards

Online Banking

Personal Banking:

Banking services to support you as you go through life.

Preferred Banking:
http://www.standardchartered.com/en/banking-services/personal-banking/index.html


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More rewarding, more convenient, more personal.

Priority & International Banking:

Experience the perfect blend of exceptional service.

Priority banking is a new way of banking that understands what is significant to you through perfectivetense services unequalled benefits and solution

Private Banking:

Creating partnerships that go beyond the purely financial.

SME Banking:

Achieve greater success for your business.
http://www.standardchartered.com/en/banking-services/sme-banking/index.htmlhttp://www.standardchartered.com/en/banking-services/private-banking.htmlhttp://www.standardchartered.com/en/banking-services/priority-and-international-banking.htmlhttp://www.standardchartered.com/en/banking-services/preferred-banking.htmlhttp://www.standardchartered.com/en/banking-services/sme-banking/index.htmlhttp://www.standardchartered.com/en/banking-services/private-banking.htmlhttp://www.standardchartered.com/en/banking-services/priority-and-international-banking.htmlhttp://www.standardchartered.com/en/banking-services/preferred-banking.htmlhttp://www.standardchartered.com/en/banking-services/sme-banking/index.htmlhttp://www.standardchartered.com/en/banking-services/private-banking.htmlhttp://www.standardchartered.com/en/banking-services/priority-and-international-banking.htmlhttp://www.standardchartered.com/en/banking-services/preferred-banking.htmlhttp://www.standardchartered.com/en/banking-services/sme-banking/index.htmlhttp://www.standardchartered.com/en/banking-services/private-banking.htmlhttp://www.standardchartered.com/en/banking-services/priority-and-international-banking.htmlhttp://www.standardchartered.com/en/banking-services/preferred-banking.html


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Standard Chartered Small Medium Enterprise banking provides services for Small to mediumsizecompanies to expand their enterprise.

Tijarat Accounts

Business Installment Loans

Industry Specific Solutions

Wholesale Banking:

Committing our expertise to power your ambition.

Wholesale banking provides Transactional banking, Debt Capital Markets, Corporate Finance,Derivatives& Fx Options, Commodity Finance and deposit products

Islamic Banking:

Innovative Shariah compliant banking solutions.

Standard Chartered Saadiq's dedicated Islamic Banking team provides comprehensiveinternationalbanking services and a wide range of Shariah compliant financial products that are based on Islamicvalues
http://www.standardchartered.com/en/banking-services/islamic-banking/index.htmlhttp://www.standardchartered.com/en/banking-services/wholesale-banking.htmlhttp://www.standardchartered.com/en/banking-services/islamic-banking/index.htmlhttp://www.standardchartered.com/en/banking-services/wholesale-banking.html


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online Banking:

Get complete control of your accounts and manage your finances anytime, anywhere

Mobile Banking:

Our Breeze mobile banking application puts you in control, so you can do more with your time.
http://www.standardchartered.com/en/online-banking/index.html


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Standard Chartered Breeze is a mobile banking application for the iPhone & iPad that can also be used onthe computer. It is largely similar to the online banking services offered by other banks, with theexception of its function to issue electronic bank cheques. Launched in summer 2010 and aggressivelymarketed, the reviews have been generally positive. In addition, it has attracted an uncommon amount ofattention due to many innovative marketing strategies it used to promote its product, mostly focussing onsocial media. Standard Chartered Breeze organised a blogger's meet for bloggers to preview Breeze, andits Twitter campaign to give away a free iPad was extremely successful.[34]

TOTAL OFFICES AT NATIONAL AND INTERNATIONAL LEVEL:

Standard chartered is operating more then 150 branches in about 25 cities of Pakistan.StandardCharteredhas a history of over 150 years in banking and operates in many of the world's fastest-g r o w i n gm a r k e t s w i t h a n e x t e n s i v e g l o b a l n e t w o r k o f o v e r 1 , 4 0 0 b r a n c h e s( i n c l u d i n g subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region,SouthAsia, the Middle East, Africa, the United Kingdom and the Americas.As one of the worl d'smost inter nation al ba nks, S tanda rd Ch arte red emplo ys 60,000 peopl e,representing over 90

nationalities, worldwide. This diversity lies at the heart of the Bank's valuesa n d s u p p o r t s t h eB a n k ' s g r o w t h a s t h e w o r l d i n c r e a s i n g l y b e c o m e s o n e m a r k e t .
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MAIN OBJECTIVES:

Standard Chartered Bank is an international bank, focused on the established and emergingmarkets ofAsia, Africa, the Middle East and Latin America with an extensive global network of more than 600

offices in over 50 countries. The three principal business groups are Treasury,Consumer Banking andCorporate and Institutional Banking. Their main objective is to offer outstanding value to their customersby providing knowledgeable, efficient and reliable servicein a personal, helpful and responsive manner.Central to this service philosophy is the professional consultative approach they take with each customer.By getting to know thecustomer better, they can identify the customer's needs and match them withquality productswhich suit their best.

SWOT ANALYSIS OF STANDARD CHARTERD BANK :


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Context Diagram of ATM Machine:


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Hierarchy of IT Department:

Networks & Communications:

The department is responsible for managing all the network and communication that took placeinside thebank which includes Internet, Intranet, Extranet, Voice, Fax services. The coreresponsibilities of thisdepartment is

Managing existing data network.

Managing the voice network.

Managing the Fax network.

Service Management:

The department is responsible for providing services to the new as well as existing applicationsrunninginside the organization. The department is also responsiblefor monitoring the applicationuptime andproviding maximum uptime to the critical applications toavoid any financial & serviceloss and assigningthe privileges to the employees.

Security & Risk:

The department is responsible for all the security issues that couldhappen in the existing systemwhichincludes Internet Banking securities, network securities, external & local access etc.

Technical Support Services:

support and services to any kind of hardware issues from a single desktop pc to theirservers.

Banking Softwares:

Each software is specifically designed for a specific department and intended to performsome specifictask in orderfunctional helping different departments.


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Management Information System:

Definition:Management Information Systems (MIS) is the term given to the discipline focused onthe integration ofcomputer systems with the aims and objectives on an organization.The evolution and direction of infoengineering tools assists executives and the universal workforce in acting any tasks accompanying to thephysical process of information. MIS and concernsystems are especially utile in the bite of concerninformation and the product of reports to beexploited as tools for decision making

Applications of MIS:

With computers existence as present as they are 24-hour interval location s hardly for any sizeconcernthat does not rely extensively on their IT scheme.However there are several fact fields inwhich MIS has

become invaluable.

Strategy Support:

While computers cannot create concern strategies by themselves they can aid direction inapprehension thepersonal effects of their strategies and aid enable effectualdecision making.MIS scheme can be exploitedto transform information into info utile for decision making.Computers can provide business statementsand public presentation reports to aid in thepreparation, observance and execution of strategy. MIS systemprovides a treasure function in that they collate into coherent reports unmanageablevolumes ofaccumulation that would otherwise be broadly ineffectual to conclusion maker.Bystudying these reportsconclusion makers can identify patterns and trends that would haveremained unseen if the raw data were

consulted manually. MIS systems can also use this raw accumulation to run simulations theoreticalscenarios thatresponse a reach of what if questions regarding alterations in strategy.For illustrationMISsystems can provide predictions about the result on income that an adjustment in termswouldindividual on a product. These conclusion reinforcement Systems DSS enable manyadvisedconclusion fashioning within an endeavor than would be achievable without MIS system ofrules.

Data Processing:

Not exclusive do MIS systems allow for the bite of big amounts of concern information but theyalsoprovide a valuable good welfare to the workforce.

Where in the past business concerninformation had to be manually pure for formation and psychoanalysisit can now be entered

Management by Objectives:

While MIS systems are extremely useful in generating applied mathematics reports and dataanalyticthinking they can also be of use as a Management by Objectives MBO tool.MBO is a managementcognitive process by which managers and subordinates agree upon a seriesof objectives for the underlingto endeavor to achieve within a set clock time frame.Objectivesare set using the SMART quantitative


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relation that is objectives should be fact Measurable Agreed,Realistic and Time Specific.The aim of theseobjectives is to provide a set of key public presentation indicators by which anendeavor can justice thepublic presentation of an worker or project.The achiever of any MBOclinical depends upon the around-the-clock trailing of progress.In tracking this performance it can be extremely utilitarian to shuffle use ofan MIS system.Sinceall smartness objectives are by distinctness measurable they can be tracked through withthecontemporaries of administration reports to be analyzed by conclusion maker.

Benefits of MIS:The field of battle of MIS can deliver a extraordinary m benefits to enterprises in everyindustriousness.Skilled organizations much as the association of MISalong with equal reviewed journals much as MISperiod continue to discovery and study new shipway to use MIS to achieveconcern objectives.

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