According to sources familiar with the developments, the bank may sell more than Rs 3,000-crore (Rs 30-billion) worth of retail assets in India comprising mortgage loans, personal loans and loans to small businesses.
The deal, which will be signed this week, will see Standard Chartered Bank adding 170,000 cards to its existing portfolio of 1.1 million cards. The foreign lender will also become the fifth largest card issuer in the country after HDFC Bank, ICICI Bank, Citibank and State Bank of India.
While most bankers see advances growing 16-18 per cent this financial year, they expect credit expansion to slow to less than 16 per cent in 2012-13.
Move comes as stringent regulation chokes biz growth.
Link loan disbursals with firming up of steady supply of raw material.
Fears of banks' earnings plummeting in a deregulated savings deposit rate regime appear to have gripped investors, with most analysts hinting that profitability may come under pressure due to higher cost of funds amid slowing growth in advances.
We are looking to target individuals who have the potential to become high-value clients in the future. It is possible to target this segment with the help of powerful data analytics.
The regulator had earlier asked these banks to submit a road map and give a time frame for paring promoters' shareholding to 10 per cent.
Volatility in local share markets have hit India Inc's equity fund-raising plans, with the total deal value this year set to fall below the level seen in 2008.
Standard Chartered Bank appears to lead the race to acquire Barclays Bank's credit card business in India, six months after the British lender decided to sell it, three people familiar with the development said.
Sources familiar with the developments said the clearance came a few days earlier. While the details of the revised structure were not known, the sources said it would remain an all-stock deal.
A host of companies started the ground work for their banking play.
Third-party sales force in financial sector dying slow death.
Despite fears of slow economic growth, the health of their unsecured assets are not so likely to be stressed.
Apart from the cheaper interest cost, the need to make local purchases and payments in the yuan has prompted a few Indian companies with Chinese operations to explore fund-raising opportunities through this route.
For home buyers in Noida Extension things have just gone worse. While banks have decided not to disburse loans to residential properties in the area, including those that had no litigation against them, builders are threatening to charge a penalty if payments are not made according to the existing contracts.
In an interview with Malvika Joshi and Somasroy Chakraborty, Madan Menon, RBS' chief executive for Singapore and Southeast Asia and head of global banking and markets in India, shares the bank's plans.
Jobless growth has found a new home - India's life insurance companies. In the last financial year, private life insurers reduced headcount by 27 per cent to achieve profitability.
Standard Chartered Bank's aim of expanding its consumer banking business in South Asia was strengthened when it convinced Sanjeeb Chaudhuri to join the bank earlier in July.
The country's largest commercial bank's SME advances grew nearly 23 per cent to Rs 119,676 crore last financial year.
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