Standard Chartered draws expansion plans in Dubai

Standard-CharteredStandard Chartered Plc., one of the leading international banks, has been eying on tapping large scale business opportunities present in the Middle-East market especially in Dubai. The bank would expand its presence in Dubai opening new offices and investing more in the highly potential market.

Standard Chartered Plc already retains significant exposure in the country and said that it would do everything possible to take advantage from improving market conditions in the slowly improving economy of the Middle-East.

Peter Sands, the Chief Executive of the Group, said that the bank considers Dubai as a right place to grow its business in the UAE. It has already reported revenues exceeding USD 1 billion from the emirate in 2009 despite very challenging period due to global slowdown. The bank made handsome income from Hong Kong, Singapore, Korea, India and the UAE.