Standard Chartered opens Priority Centre in Bhubaneswar branch

To cater to the wealth & affluent segment

24 February 2025, India – Standard Chartered Bank today announced the opening of a Priority Centre in its relocated Bhubaneshwar branch in state of Orissa to better serve the growing affluent population and meet the rising demand for premium financial services. This strategic move underscores the Bank’s commitment to provide tailored wealth and banking solutions to the professionals, entrepreneurs, and high-net-worth individuals (HNWIs).

After establishing a strong presence in the Top 6 cities in India to cater to the growing affluent and wealth segment, Standard Chartered Bank has set its sights on driving growth in the next 10 markets/ state capitals by upscaling to the affluent segment and hiring the relevant talent to serve its growing Private and Priority client base.

India is home to approximately 350,000 HNW individuals, with their numbers growing at a compound annual growth rate (CAGR) of about 12% over the past five years. Wealth is now more widely dispersed across at least 30 of the largest cities in India due to burgeoning industries, real estate booms, and local economic growth.

As one of India’s emerging economic hubs, Bhubaneswar is experiencing rapid growth in key sectors like technology, real estate, and education. The city is also witnessing an increasing presence of Non-Resident Indians (NRIs) who have settled abroad and are now returning to invest, live, or maintain ties with their homeland. With this growing base of affluent clients, Standard Chartered has relocated its existing branch to a larger premise in Rajmahal Square to continue to support local businesses and individuals in managing, growing, and protecting their wealth.

The Bank, late last year, opened two International Banking Centres for Global Indians in Mumbai and Chennai respectively to cater to the affluent and high-net-worth individuals and manage their wealth and banking needs across the globe. These centres are dedicated spaces within the Standard Chartered Bank branches, focussed on providing expert advisory, cross-border financial solutions, and access to exclusive investment opportunities

Nitin Chengappa, Managing Director and Head Affluent Distribution & Branch Banking, Standard Chartered Bank, India, said, “With Orissa’s growing economy and increasing demand for sophisticated banking services, we are excited to open a Priority Centre in our newly relocated Bhubaneswar branch. This expansion is a testament to our long-term commitment to supporting the financial aspirations of Bhubaneswar’s affluent population, whether it’s growing their investment, securing their family’s future, or building their legacy. This also aligns with the Bank’s strategy to focus on the ever-growing wealth and affluent segments.”

“Standard Chartered seeks to empower clients to take control of their financial aspirations, offering tailored solutions and expert guidance to navigate the complexities of wealth management,” Nitin added.

Ends

For further information please contact:

Rahul Virkar

Head – External Communications

Standard Chartered Bank, India

Email: rahul.virkar@sc.com

Mobile: +91 98204 40482

Rajiv Banerjee

Head – Communications, India and South Asia

Standard Chartered Bank

Email: rajiv.banerjee@sc.com

Mobile: +91 9920454102

About Standard Chartered

Standard Chartered Bank has been operating in India with a continuous presence of over 165 years making it one of the oldest foreign banks in the country. The Bank has a network of 100 branches across 42 cities. Key business segments include Corporate and Investment Banking and Wealth and Retail Banking. For more information, visit https://www.sc.com/in/

Globally, we are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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