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Standard Chartered Bank

History at a glance:
The journey began in 1853 when James Wilson founded Chartered Bank named after
the grant of a Royal Charter by Queen Victoria. The bank opened its branches in
India, Australia and China in cities such as Mumbai (Bombay), Kolkata and Shanghai
in 1858. The Standard Bank was founded in 1862 by John Paterson and it extended
its operations in Southern, Western and Central Africa and owned 600 offices by
1953. It was 1969 when the merger of these two banks resulted in the formation of
a single entity named as Standard Chartered Bank. (Our history , n.d.)

Standard Chartered Pakistan

Standard Chartered Pakistan is a banking and financial services company in Pakistan and a wholly
owned subsidiary of Standard Chartered. It is Pakistan's oldest and largest foreign commercial bank.

Mission & Vision:
Organizational Hierarchy:
Service Portfolio





Analyzing Portfolio:
Growth Strategy:
{Market Development (introduction of priority
banking), Product Development Customer Centered New Product development: Test
marketing in Switzerland}

Internal Marketing:
Internal marketing refers to considering companys own employees as customers. In
service sector, it is very important to keep employees satisfied and clear about
companys vision and mission. Employees, especially in service sector are the most
important marketing tool. A customers satisfaction/dissatisfaction depends on their

overall experience with the company; how employees interact with them, what
services they provide, how they provide them, etc. A disorganized team and unclear
objectives are easy ways to turn a business into a failure.
To motivate the sales task force, Standard chartered Pakistan incorporated Price
Solution Pakistan Ltd. in 2006. PSPL manages Standard Chartereds sales task
force, give employees compensation and employment benefits. Standard
Chartered has a grade scale for its employee evaluation upon which Human
resource department works. That grade scale has 4 grades; Excellent,
satisfactory, average and underperformed. Employees performing excellent get
bonuses and incentive more than any other employee. Employees with grade
S, get incentives less than grade E employees. Employees with grade A
are provided with more training, and those with grade U are inquired to find
out the cause behind their performance. Employees are also given utility
allowances, house rent allowances, consolidated allowances, Provident funds
and gratuity after 5 years of services. Apart from that there is also an employee
retention strategy, which includes salaries/retainers; based on market norms,
variable compensation; based on performance review, benefits; based on
regulations, recognition programs; formal and informal rewards and training.
(Ahmed, 2011)
According to the employees of Standard Chartered, the companys
management, job culture, job work/life balance, job security and advancement,
and compensation and benefits are extraordinary. Most of them gave the
company 5/5 rating and the rest of them gave the company 4/5. Some
employees also mentioned some problems faced; short break, health, late hours
meeting, and pick and drop are to mention a few. The pros mentioned by the
employees include, a lot of incentive other than salary, excellent learning
environment, free lunches, overseas posting opportunities, annual dinners,
handsome bonuses, culture, tours, volunteering programs, transparency and
much more. (Standard chartered reviews, 2014-2015)

Many international banks came in Pakistan, but most of them either went back or
cut major operational activities. Standard Chartered neither diminished nor is
planning to diminish its operational activities and has no desire to leave, rather has
been growing since the very start. (Tirmizi, 2013) Since Standard Chartered is the
only international bank in Pakistan and is here before partition, it doesnt face much
of a competition. Some of the key competitors that Standard Chartered identifies
are UBL and HBL, mainly UBL. Faysal Bank and Al-Falah Bank are also strong
competitors, but it depends on the services offered. (Refer to Appendix B Exhibit B)
Standard Chartereds being an international bank, all its services are tested in
Singapore before launching them in Pakistan. Of course peoples perceptions and
values differ according to geographic areas but because it is banking sector,

preferences do not greatly differ. This gives Standard chartered a competitive edge.
(Refer to Appendix B Exhibit A) Standard Chartereds main marketing strategy is to
digitalize. Standard Chartered has recently launched deposit machines in which you
can deposit money at any time of the day. No other bank has as yet launched this
kind of facility. Apart from that Standard Chartered has also launched its mobile app
known as breeze. (Breeze mobile, n.d.)
Apart from this Standard chartered is the one of the only banks with online banking,
connecting the branches over the country. As a matter of fact, 80% of online
interbank transfers in the country are done by Standard Chartered. (Tirmizi, 2013)



UBL Signature Priority


Standard Chartered Priority


Rs 30,000

Rs. 500000 and 3million for 3

Dedicated Relationship Team, 'Ask
once and it's done' service, Instant
Account Opening, Exclusive
Banking Channels

Account Opening, lockers,

financial services,
bancassurance, faster TATs,
net banking, UBL estatements, Internet access
zone, free transfers, online
branches, free SMS banking.
UBL Signature Premium Debit
MasterCard, Airport Lounge
Facility, Priority Phone

Privileged Pricing on platinum debit

and credit card, Household
Recognition And Family Benefits,
Partner Discounts, Travel Services,
24/7 Roadside Assistance

(UBL priority banking, Privileges, n.d.)

(Standard Chartered: Priority Banking, benefits, n.d.)
(UBL priority banking offered services, n.d.)
(Standard Chartered, priority banking, services, n.d.)
(Appendix B Exhibit A)
Interactive Marketing:
Understanding Customer behavior: (affecting Cultural, Social, Personal,
Psychological factors)
Priority banking caters A2 socio economic class and comes under unsought type of
product. Opting for Priority Banking with Standard Chartered is a complex buying
decision as it requires you to deposit 3 million rupees for 3 months. Since, it comes
under complex buying behavior, its customers demand a lot from the bank, hence it

provides its customer with best services, comprising of platinum card, titanium card,
discount offers on hotels, travelling tickets, travel packaging etc. It also provides its
customers with privileged pricing on banking transactions. In addition to this Priority
account extends its services to their customers families as well. (Refer to Appendix
B Exhibit B)
As previously mentioned, Standard Chartered is in service sector and one
characteristic of service is variability. Not two salespersons are alike. Likewise,
Standard Chartered wasnt able to capture hearts of all its customers, some of them
even closed their bank accounts and went with some other banks like Alfalah Bank
limited, Soneri bank Ltd. According to them the staff was rude and the services were
abrasive. (Facebook, search results priority banking, n.d.)
However, some customers loved the experience due to platinum and titanium card.
Platinum and Titanium card offers them discounts while traveling and much more.
(Facebook, search results priority banking, n.d.)
Customer Relationship management:
Relationship managers:
As soon as one becomes a priority bank client, a relationship manager along with a
team is assigned to help with the customers financial matters. (prority service:
standard chartered website, n.d.)
Also, there is a team Separate priority banking team (SPBT) that looks after all
priority customers, they even send the customers cards and cakes on their
birthdays. (Refer to Appendix B exhibit B) In the top 25 relationship managers has
nine relationship managers from standard chartered. From this we can assume that
the relationship managers assigned to the priority banking customers can are
eligible and friendly enough to deal with the their customers (Relationship manager,
priority banking, n.d.)
Call Centers:
There are almost 200 priority bank centers across Africa, Asia and the Middle East.
Standard Chartered has its ask once and its done service to improve the
effectiveness of its service.
Standard chartered also extends its services to providing complete details about
financial markets and trend to its customers so that they can make informed
decisions about their financial exposure. (Resource centre: Standard chartered
website, n.d.)
Challenges faced: Variability
Since Standard Chartered Bank is in service sector, it heavily depends on how their
employees interact with the customers. If the customers is dissatisfied, to a much
extent, its the salesperson dealing with them. To ensure service quality, all
employees have to attend training sessions whether old or new. New employees
have to attend workshops while older employees attend refreshers session. Apart
from that all employees have to follow standard Chartered charter, which includes
all the rules and regulations for communication with the customers, decision making

etc. are included. Noncompliance of this charter may cast a threat on an employees
job. (Refer to Appendix B Exhibit B)


Apart from all this, The Bank realizes that it is their social reasonability to help the
society grow, to fulfill their responsibility. There are teams which are responsible for
CSR activities and each team is required to conduct a CSR activity once in a quarter.
Every employee has employee volunteer leaves i.e. on any one decided day per
month, he/she will get the leave for volunteer work and this system is monitored. It
is also entered in the employee records. CSR activities are referred to EV at
Standard Chartered. Recently they arranged an event for the children of
underprivileged schools in Hill Park in which there were different stalls and games. It
was like a fair and their senior staff also came there and interacted with those
children. Also in Ramzan, there was an Iftar arrangement at the HOPES school,
which is run by TCF. Before Iftar there was a session in which they explained
investment, financial markets, and money management etc. in easy terms for those
children. Many industry advisors went to that as well. Standard Chartered holds a
distinguished position in terms of CSR. No other bank has been doing it so actively.
One reason of this is that Standard Chartered is globally monitored. It is usually
conducted when someone from the global team comes from either Dubai or
Singapore. It serves as a staff engagement activity as well as community service.
(Refer to Appendix B Exhibit A)
The Bank also conducted Pakistan Urban Pediatric (PUP) Eye Care Program for blind
with the belief that seeing is believing. Identifying blind and low vision children
and providing the required eye health services to children was the main purpose of
the project. (News: Pakistan Observer, 2015)

Standard chartered Bank Pakistan Limited follows two sets of rules, one that comes
from Standard Chartered group and one that comes from State Bank of Pakistan. It
is very important for a bank operating in Pakistan to have good relations with State
Bank of Pakistan, hence, Standard Chartereds Legal, Compliance and Risk teams
work together to ensure compliance with SBP rules and regulations. SCB has an
amazing track record as a bank in Pakistan, when it comes to the law and ethics.
Unlike a lot of local banks, they follow each and every instruction issued by SBP.
(Refer to Appendix B, exhibit C)
Standard Chartered believes in digitalization. Priority banking is for the upper class
and hence we can assume that priority banking clients are not aware of

technological advancement. Todays world is more digitalized and hence, Standard

Chartered has launched a mobile app for complete banking which enables the
customer to transfer funds and pay bills, check their account balance and
transaction history, and find the nearest ATM or bank branch. (Breeze mobile, n.d.)
No other bank has as to date launched such an app successfully. UBL did launch a
similar app but it wasnt as successful as breeze. (Refer to Appendix B Exhibit A)
Standard Chartered has also launched deposit machines in which you can deposit
money at any time of the day. No other bank has as yet launched this kind of
facility. If a customer has to deposit cash at 3 at night, they can easily do it through
the nearest deposit machine. The customer is then given a slip for confirmation of
his/her transaction. There are 17 deposit machines around the country in total, 6 in
Karachi, 5 in Lahore, 3 in Islamabad and 1 in Multan, Gujranwala and Faisalabad
each. (Cash Deposit machine: Standard Chartered, n.d.)
Apart from that Standard Chartered has the best online banking in Pakistan. Online
banking is not e-banking, but interconnection of different branches of Standard
Chartered. If a customer opens an account he/she can make transactions from any
branch available. No other bank has yet done it, for say Habib bank has 1500
branches, it is very difficult for them to connect 1500 but since Standard Chartered
has 116 branches only, it isnt that hard. (Refer to Appendix B Exhibit A)

Marketing Strategy
Key Insights:
Standard Chartered Priority Banking is a distinctive and personalized relationship service, on
understanding your needs holistically and partnering you to achieve your goals. Clients have
access to a qualified relationship management team, comprising of a dedicated Relationship
Manager who is supported by Specialists in the areas of Investments, Insurance, Foreign
Currencies and Lending. (htt)
According to the regional head of Standard Chartered Bank, It was introduced as a
way to value the customers who have a strong relationship with the bank. That
segment is small but contributes largely to the banks profits.


Priority Banking

The priority banking is
primarily segmented in SC
through the usage rate of
existing customers.
The priority banking looks for
those who are the small
percentage of the market but
contribute a high percentage of
total consumption.



The priority banking is segmented

Life style of thesecondarily

is the level of
also considered while
segmenting thebank
as earns. SEC A and
priority banking serviceshighly potential
and benefits aresegments
highly for priority banking as
exclusive and for thosebanking
who is offered to
highly sophisticated and elite
have a prestigious life style.
class. Certain Balance
requirement is Rs. 3
million for 3 months.

It is provided to all those

retail customers who have
a certain i.e. to say strong
relationship with the bank
across their overall

Standard Chartered Bank Priority banking targets a niche market of customers with
high investible assets and the intensity of its discerning consumers can be measured by
the fact that priority banking targets those customers who have ATLEAST 50 lacs
in their account, by offering the priority services which includes covering banking,

borrowing, protection and investments, with exclusive new products such as the Visa Platinum
Debit and Credit Cards. It also includes a range of international banking services and exclusive

Since the target consumer are highly sophisticated and exclusive the priority banking is usually
affiliated with business units and high class society. Most of the priority banking clients are the
loyal customers of Standard Chartered and according to the Regional Head of SC, It was
introduced as a way to value the customers who have a strong relationship with the
bank. That segment is small but contributes largely to the banks profits. Priority
banking is basically for long time customers of financial institutions for e.g. banks, with privileged prices
on banking transaction etc.
In short, Longtime customers of a financial institution are provided with priority banking. It includes
advanced services such as payment of bills online, consultation on financial matters, free checking, etc.
Nowadays, priority banking is offered to new customers of a financial institution as a promotion. (toh)

Like any other services sector industry, Standard Chartered Bank needed to differentiate itself from others
in a highly distinctive way. And Standard Chartered bank has done it very effectively even in case of
priority banking. There are many key differentiating factors in Standard Chartered Priority Banking, but
the primary factor is digitalization as interpreted by the reginal head of SC priority banking that if the
consumer opens an account he/she can make transactions from any branch available. No other bank has
yet done it, for say Habib bank has 1500 branches, it is very difficult for them to connect 1500 but since
we have 116 branches only, it isnt that hard for us. The secondary one is the fact that Standard Chartered
Bank is the one and only international bank in Pakistan. Standard Chartered Bank portrays a conservative
image in the market i.e. Standard Chartered Bank can never compromise its policies for its customers.

The service it provides is more for more deal due to which they provide them with highly
dedicated relationship managers as in priority banking every consumer counts.
The dedication of relationship managers of SC priority Banking can be measured by the top relationship
manager has nine relationship managers from standard chartered while other banks only have three to
four in the same list. Hence we can assume that the relationship managers assigned to the priority banking
customers can are eligible and friendly enough to deal with the their customers.
SC adds the spice to its solutions by providing their priority banking consumers with
benefits .e.g. Privileged Pricing, Household Recognition and Family Benefits,
Lifestyle Privileges, Partner Discounts, Travel Services which are highly demanded
by the audience they target.

Positioning Statement:
For highly exclusive class of the society usually in business sector who need superior and
sophisticated services with the benefits which can help them retain their business and prefer
services mostly digital so that they can benefit from them anywhere in the world.


Design and


The logic behind the logo design of SC explained by the regional head of Standard Chartered If
you look at it you will think its a rope, but if you look close enough its an s and a c. Our
logo indicates togetherness, devotion, and unity. Our tagline is Here for good, it can be
interpreted in two different ways, first that we are here to make a good impact on the society,
second that we are here forever.

Value Proposition: Here for good

Product Offering:
Standard Chartered Bank offers priority banking to a segmented market. This
offering is a combination of both tangible and intangible goods (services). It is an
unsought product for public but a specialty product for its customers who prefer
Standard Chartered over any other bank.

Core product: Standard Chartered aims to fulfill the need of customers for a
personalized financial partnership with global access and digital mediums.
Standard Chartered has therefore adopted a holistic need based approach in
the area of priority banking and tells it customers,

The foundation of our relationship approach is anchored on understanding

your needs holistically and partnering you to achieve your goals. (Standard
Chartered Bank, n.d.)
Actual Product: In order to fulfill all financial needs of its customers, Standard
Chartered introduced its financial solutions and services under the name of
Priority Solutions which promise to address all financial priorities of its
customers. The priority solutions are further categorized into priority
solutions for personal banking and priority solutions for Islamic i.e. Saadiq
banking. (Standard Chartered , n.d.)
Product Mix:

For Personal Banking:

Convenient Banking Solutions: For the customers of personal banking,
Standard Chartered offers a wide range of banking accounts such as local
and foreign current or savings accounts. It then provides easy access to
the account through online banking.
World-Class Wealth Solutions: Standard Chartered adopts a portfolio
based approach and customizes its solutions and services according to the
needs and requirements of customers. Under its wealth management
program, it offers the following package:
1) A network of qualified wealth specialists
2) Customized products and services as per need
3) Need assessment through Customer Investment Profiling Solutions
The wealth specialists assist customers in building a healthy investment
portfolio comprising of wealth generating investments. (Standard
Chartered , n.d.)
The Category of wealth management is further divided into 3 service

Mutual funds


Term life insurance

Fixed income products Regular investment
linked insurance
Single premium
insurance plan
(Standard Chartered , n.d.)

Treasury Services
Foreign Exchange
Government Debt

Convenient Card Solutions: Designed according to the special needs

and privileges associated with priority banking, Standard Chartered offers a range of

debit card and credit card solutions. These debit and credit cards ensure that
priority banking clients are recognized globally for their priority status and are
provided seamless services in both local and international places.
Standard Chartered has following 3 debit and credit card solutions:
1) Platinum Debit Card: Platinum Debit Card not only gives customers the ability
to conduct overseas cash withdrawals and shopping transactions easily, but it
has also been the first debit proposition which guarantees 1% cashback on
local POS spend and 2% cashback on international POS spend.
2) VISA Platinum Credit Card: Along with many other exclusive services,
Platinum Credit Card also gives access to the catalogued discount program of
Standard Chartered which is named Treasures. It gives 5 reward points on
every Rs 200 purchase and the customer can choose any gift from the
catalogue by redeeming those points.
3) MasterCard Titanium Cashback Credit Card: Titanium Credit Card offers
multiple cash back opportunities such as
5% Cashback on fuel transactions
5% Cashback on supermarket transactions
3% Cashback on Electronic outlets
The customers can avail up to Rs 500 cashback and a upper monthly cap
of Rs 1000 per card is applicable. (Standard Chartered , n.d.)
Lending Solutions: As the financial partner of its priority clients,
Standard Chartered developed a range of premium lending facilities which include:
1) Priority Credit Cards: VISA Platinum Credit Card and Masterback Titanium
Credit Card ensure an easy lending and a carefree shopping experience.
2) Priority Mortgage: The priority relationship status of customers provides a fast
progress on mortgage applications and discounts on fees and charges (as per
the priority schedule of charges)
3) Priority Personal Loans:
This service line includes two variants of personal financing:
Personal Instalment Loan Facility: It comprises of one-time expense
followed by repayment after a specific time.
Revolving Credit Facility: It is designed on a permanent basis and
provides loans to fulfill daily cash needs.
(Standard Chartered , n.d.)
Business Solutions: Standard Chartered promises a financial partnership in
all aspects. It therefore developed programs to cater the business needs of its
esteemed clients. These programs include:
1) SME Banking: SME banking is designed to support the finances of a
business. The SME banking team has laid out one-stop financial solution to
fulfill all the required finance requirements.
2) Employee Banking Program: This program is a complete package for any
organization and its employees. It promises a customized and convenient
banking experience.

(Standard Chartered , n.d.)

For Saadiq banking:

Standard Chartered has developed a separate service category for the
customers who prefer their Islamic principles and search for Shariah
compliant solutions. Standard Chartered-Saadiq provides these required
financial services based on Islamic values:
Saadiq Accounts: Standard Chartered Saadiq Accounts guarantees its
customers that their funds will only be used in Shariah compliant manner.
Customers can choose from two types of Saadiq accounts which are current
and savings accounts.
Wealth Management Solutions: Investment products for Saadiq
Customers are provided under a Takaful Plan which can fulfill their short term
and long term saving needs and is compliant with Islamic beliefs and values.
Saadiq VISA Credit Card: According to Standard Chartered, it is Pakistans
first Shariah compliant Credit Card which offers the global advantages such
as international acceptability of VISA.
Saadiq Term Deposit: In order to assist its customers of Standard
Chartered Saadiq, Term Deposit Account is offered. Customers can earn
competitive profits without compromising their beliefs.
Business Solutions: Saadiq Business Solutions ensure the fulfillment of
business needs of its clients through the following 2 ways:
1) Saadiq SME Banking: In order to address any business need of short,
medium or long term financing, Saadiq SME banking provides Shariah
compliant customized solutions.
2) Employee Banking Programme: It offers a complete business package,
designed to cater the needs of businesses and their employees who wish
to follow the rules of Shariah.
(Standard Chartered , n.d.)
Product Support Services:
Augmented Product:
New Product Development:

Segmented Pricing
For Personal Banking
For Saadiq banking
our Platinum Debit or Credit Card is your gateway to exclusive discounts through
our merchant alliances program and to our 24 hours concierge service specially
designed to meet your needs

(Minimum balance requirement, interest rates, Discounts)

For Personal Banking
For Saadiq banking
Online banking

Advertising objectives:
Advertising tools:
(BTL, Personal)
Personal Selling:
Direct Marketing:
Our certified Relationship Managers are available to guide you on strategies which
combine various financial tools to fulfil your needs
Advertising Strategy:
For Personal Banking
For Saadiq
Recent Promotional activities:
(sponsor cricket matches, Magnum party etc)

Analysis & Recommendation:

Appendix A
Works Cited
(n.d.). Retrieved from to
(n.d.). Retrieved from
Ahmed, R. (2011, June 29). Slide share. Retrieved from
Breeze mobile. (n.d.). Retrieved from Standard Chartered web site:

Cash Deposit machine: Standard Chartered. (n.d.). Retrieved from Standard

Facebook, search results priority banking. (n.d.). Retrieved from Facebook:
News: Pakistan Observer. (2015, November 11). Retrieved from Pakistan Observer:
Our history . (n.d.). Retrieved from Standard Chartered Bank:
prority service: standard chartered website. (n.d.). Retrieved from Standard
Chartered Website:
Relationship manager, priority banking. (n.d.). Retrieved from LinkedIn Website:
Resource centre: Standard chartered website. (n.d.). Retrieved from Standard
Chartered Website:
Standard Chartered . (n.d.). Priority Solutions. Retrieved from Standard Chartered
Bank - Priority Banking:
Standard Chartered Bank. (n.d.). About us. Retrieved from Standard Chartered Bank
- Priority banking:
Standard chartered reviews. (2014-2015). Retrieved from Indeed website:
Standard Chartered, priority banking, services. (n.d.). Retrieved from Standard
chartered Pakistan website:
Standard Chartered: Priority Banking, benefits. (n.d.). Retrieved from Standard
Chartered website:
Tirmizi, F. (2013, March 21). Business. Retrieved from Express Tribune :
UBL priority banking offered services. (n.d.). Retrieved from UBL website:
UBL priority banking, Privileges. (n.d.). Retrieved from UBL website: