Gandhinagar: Standard Chartered Bank today announced that it has shifted to larger office premises at Gujarat International Finance Tec-City (GIFT) City, reinforcing its long-term commitment to India’s premier international financial services hub.

In an official press release, the bank said, “Over the last couple of years, Standard Chartered Bank has invested significantly in capability building, involving product suite, talent and technology, across its Corporate & Institutional Banking business. The Bank has one of the largest on-ground team among foreign banks’ International Banking Units (IBUs) at GIFT City, focussing on innovation and market development.”

The new premises was inaugurated by P D Singh, CEO, Standard Chartered Bank, India & South Asia, in the presence of Saiju Gandhi, Head of GIFT City, alongside senior leadership from the Bank. Senior officials from IFSCA, GIFT House and British High Commission’s Office were also present at the event.

“Standard Chartered Bank is the first foreign bank to commence operations at GIFT IFSC and has played a pivotal role in its development. It currently offers the widest product bouquet to corporate and institutional clients across Lending, Trade Finance, Cash Management and Financial Markets. Standard Chartered Bank was also the first Bank to launch foreign portfolio investor offering at GIFT City and has pioneered many industry-firsts offerings such as launch of structured rate loan, launch of offshore derivative instrument, launch of gold hedging product etc,” the bank said in a statement.

Over last two years, the funded assets at the Bank’s GIFT City have grown by over 150% while attaining market leadership in the derivative business. A full suite product bouquet has helped Standard Chartered Bank in bringing many multinational clients to GIFT City by offering them seamless connectivity with Indian market, the statement further said. DeshGujarat