Standard Chartered Bank wants to wind down its retail and card business in Bangladesh
The multinational bank Standard Chartered wants to sell its consumer or retail banking business and credit card services in Bangladesh. BRAC Bank and City Bank, two of the country’s leading banks, have expressed interest in acquiring the business of the 173-year-old bank. They have already held separate meetings with Standard Chartered regarding the matter. Senior officials from Standard Chartered’s headquarters and regional office have also met with the governor of Bangladesh Bank to brief him on the issue.
Multiple sources at Bangladesh Bank and the three banks have confirmed the matter. However, as no formal agreement has been reached, officials of the interested banks were unwilling to comment or disclose their identities at this stage.
In mid-2025, the multinational bank The Hongkong and Shanghai Banking Corporation (HSBC) announced that it would shut down its retail banking operations in Bangladesh. Earlier, in 2005, American Express Bank withdrew its business from Bangladesh.
