Opened in January 2004, Standard Chartered’s strategic focus is on meeting the banking requirements of development organisations, aid agencies, embassies and relief agencies. It also plays a pivotal role in the reconstruction of the country and as a conduit for major aid flows – 72% of non-governmental aid in the first half of 2006.
One of five foreign banks in the country, Standard Chartered’s profits rose more than sixfold in 2005 to $1.8m, and its assets under management of $44m at end-2005 grew to more than $55m by mid-2006. The bank has introduced new products and services, such as cash-in-transit services, covering most provincial capitals, ATMs with international debit cards and internet banking. Afghans make up more than 85% of the bank’s workforce.
CEO in Afghanistan, Joseph Silvanus, says: “Standard Chartered Bank is delighted to be recognised as The Bank of the Year in Afghanistan for a third consecutive year. We are privileged to partner with the people of Afghanistan, since our bank is uniquely placed to assist in the rebuilding efforts of the country.
“Our active engagement with the international and local communities in areas such as provision and sharing of world-class banking services, best practices in anti-money laundering, defining relevant legislation and active engagement in local community activities has laid a solid foundation in shaping the economic future of Afghanistan. We remain committed to the country and will continue to strive to be the right partner for all our business partners and other stakeholders in Afghanistan.”
