Standard Chartered Bank Nigeria

Standard Chartered Bank Nigeria is the Nigerian banking business of the Standard Chartered group. The bank traces its local banking history to 1894, when a banking operation in Nigeria was among the businesses acquired in the 1965 merger of Standard Bank of South Africa and Bank of West Africa. Standard Chartered says it re-entered Nigeria in 1999 and opened to customers on 15 September of that year as a wholly owned subsidiary of Standard Chartered Bank Plc, headquartered in the United Kingdom. Today, the bank describes its business as spanning Retail, Wealth Management, Commercial, Corporate and Institutional, Private, Digital, and Transaction Banking. It serves individuals and companies. Its personal-banking offerings include Priority, Private, Premium, and digital banking, while its company-facing services include SME and Corporate Banking. The bank also promotes accounts and deposits, debit cards, wealth services, and investment products. Digital access is a prominent part of its Nigerian offering. Customers can use SC Mobile, Online Banking, and the *977# service, and the bank describes mobile account opening, QR payments, digital transaction authentication, and access to selected investments through its app. Its investment information includes mutual funds, Treasury Bills, and Federal Government of Nigeria Bonds. For companies and institutions, the bank presents services including payments, liquidity, trade and working capital, global markets, and cross-border banking capabilities. The bank reports 13 branches, with ATMs at each branch, in Lagos, Port Harcourt, and Abuja, and more than 619 staff. It says its ultra-modern Nigeria Head Office opened in 2014 and identifies Nigeria as a growth centre. The available supplied material does not name the current country chief executive, specify a present direct owner, or give a precise head-office city.

Standard Chartered Bank Nigeria's stated local history reaches back to 1894, when a banking operation in Nigeria began. According to the bank's account, that operation was among the businesses acquired in 1965, when Standard Bank of South Africa merged with Bank of West Africa. Following the merger, the name became Standard Bank of West Africa. Four years later, Standard Bank Nigeria was incorporated locally to take over the Nigerian business. The bank says that in 1971, 13% of Standard Bank Nigeria's share capital was placed with Nigerian investors. After the Nigerian Civil War, an economic upturn and government efforts to increase local control of retail banking led to a reduction in Standard Bank's investment in the Nigerian bank to 38%. Standard Bank Nigeria was renamed First Bank of Nigeria in 1979. Standard Chartered remained a shareholder of First Bank of Nigeria until 1996. Standard Chartered says it re-entered Nigeria in 1999, opening to customers on 15 September as a wholly owned subsidiary of Standard Chartered Bank Plc, which it identifies as headquartered in the United Kingdom. The supplied company history distinguishes this return from the earlier Nigerian banking operation and does not provide a more detailed account of the group's intervening years in the country. The bank's more recent footprint and business description reflect a broad commercial banking operation. Its website lists retail, wealth management, commercial, corporate and institutional, private, digital, and transaction banking. It reports 13 branches, with ATMs at each, in Lagos, Port Harcourt, and Abuja, and more than 619 staff. The bank says its ultra-modern Nigeria Head Office opened in 2014 and describes Nigeria as a growth centre. The bank's current public-facing materials also highlight the expansion of digital services. These include account opening through SC Mobile, online banking, the *977# service, QR payments at selected merchants, and a virtual SC Mobile Key for authenticating logins and transactions. The app's investment features are described as allowing customers to buy or sell global mutual funds and invest in Treasury Bills and Federal Government Bonds. The supplied sources do not establish dates for these individual product launches, identify current senior executives, or specify a current direct ownership structure beyond the stated 1999 subsidiary relationship.

• 2014

  Nigeria Head Office opens

• 1999

  Standard Chartered re-enters Nigeria

• 1996

  Standard Chartered's shareholding in First Bank ends

• 1979

  Standard Bank Nigeria renamed First Bank of Nigeria

• 1971

  Shares placed with Nigerian investors

• 1969

  Standard Bank Nigeria incorporated locally

• 1965

  Standard Bank and Bank of West Africa merge

• 1894

  Banking operation in Nigeria dates to 1894

A Nigerian operation of an international banking group, presenting local banking services alongside the group's international expertise, digital banking, wealth services, and cross-border capabilities.

• SC Mobile

  Mobile banking app for account opening and banking functions; the bank also describes QR payments, digital transaction authentication, and investment features.

• Online Banking

  Internet banking service for basic banking operations without visiting a branch.

• *977# Banking

  A banking channel listed by the bank among its available services.

• Priority Banking

  Personal banking offering described as providing access to a Relationship Manager and consultations with certified experts.

• Investment services

  The bank describes access through its app to global mutual funds, Treasury Bills, and Federal Government of Nigeria Bonds.

• SME Banking

  Banking services for small and medium-sized businesses.

• Corporate Banking

  Company-facing banking offering listed on the Nigerian site.

• Re-entry into NigeriaOther

• Unconfirmed

  Standard Chartered Bank Nigeria launches business deposit products[6]渣打银行尼日利亚推出企业存款产品thisdaylive.com

  Standard Chartered Bank Nigeria launched new deposit products for business banking clients, including accounts offering interest earnings and specified fee-free services.

• Unconfirmed

  Standard Chartered Bank Nigeria launches SC Mobile 2.0[7]渣打银行尼日利亚推出SC Mobile 2.0thisdaylive.com

  Standard Chartered Bank Nigeria launched a digital banking service called SC Mobile 2.0 in Nigeria, offering online banking and listed customer features.

Read more

1. 1Standard Chartered Nigeria | Here for Goodsc.com
2. 2Bank With Us – Standard Chartered Nigeriasc.com
3. 3About Us – Standard Chartered Nigeriasc.com
4. 4Corporate & Investment Banking | Standard Charteredsc.com
5. 5Standard Chartered Bank Nigeriawikidata.org
6. 6渣打银行尼日利亚推出企业存款产品thisdaylive.com
7. 7渣打银行尼日利亚推出SC Mobile 2.0thisdaylive.com