Question 1

What is Standard Chartered Bank?

Accepted Answer

Standard Chartered Bank is a British multinational bank operating as a foreign bank branch in Indonesia. The bank is wholly owned by Standard Chartered Holdings Limited, United Kingdom, and operates under the integrated management of the Standard Chartered Bank board headquartered in London.

In Indonesia, Standard Chartered focuses on serving corporate, institutional, and commercial banking clients, with a smaller retail banking presence. The bank operates with over 1,300 employees across six major Indonesian cities, positioning itself as a foreign banking institution specializing in international trade finance and cross-border transactions.

Question 2

When was Standard Chartered Bank founded?

Accepted Answer

Standard Chartered Bank's presence in Indonesia dates back to 1859, when The Chartered Bank (the predecessor to Standard Chartered) began operations through the Borneo Company in Batavia, now known as Jakarta. In May 1863, The Chartered Bank began operating independently, making it the first British foreign exchange bank to establish operations in the Dutch East Indies, now Indonesia.

The Jakarta branch was closed in 1965 during an attempted coup. Banking operations resumed in 1968 when Standard Chartered Bank Indonesia received business licenses through the Minister of Finance Letter No. D.15.6.1.6.15 dated October 1, 1968, and the Decree of the Board of Directors of Bank Negara Indonesia (then Indonesia's central bank) No. 4/22/KEP.DIR dated October 2, 1968, to conduct foreign exchange and banking activities.

Question 3

Where is Standard Chartered Bank headquartered?

Accepted Answer

Standard Chartered Bank Indonesia's head office is located at World Trade Center II, Jl. Jend Sudirman Kav 29-31, Jakarta Selatan 12920, Indonesia. The bank maintains its global headquarters in London at 1 Basinghall Avenue, London, EC2V 5DD, United Kingdom.

As a branch of the British multinational bank, operations in Indonesia are integrated with and controlled by the London-based board of directors.

Question 4

Where does Standard Chartered Bank operate?

Accepted Answer

Standard Chartered Bank operates in six major cities across Indonesia: Jakarta, Surabaya, Bandung, Medan, Semarang, and Makassar. The bank has one main branch office in Jakarta, five auxiliary branches in other cities, along with 10 cash offices, 2 trade counters, and ATMs distributed throughout these urban centers.

The bank's branch network is relatively small compared to local Indonesian banks, reflecting its strategic focus on serving multinational corporations, institutional clients, and high-net-worth individuals rather than mass retail banking.

Question 5

What services does Standard Chartered Bank offer?

Accepted Answer

Standard Chartered Bank Indonesia operates through three main customer segments: Corporate and Institutional Banking, Commercial Banking, and Retail Banking. The bank provides comprehensive banking services including foreign exchange operations, trade finance, treasury services, cash management, and lending facilities.

Digital Banking Services: The bank offers SC Mobile Indonesia, a mobile banking application available on Android and iOS platforms. Through SC Mobile and online banking platforms, customers can perform real-time transfers using BI-FAST, inter-bank transfers via Bersama/Prima networks, SKN, RTGS, and international telegraphic transfers. Digital services also include online mutual fund management, retail government bond purchases, bill payments, and mobile top-ups.

The bank emphasizes cross-border banking capabilities, connecting Indonesian businesses to international markets through its global network spanning over 60 countries across Asia, Africa, and the Middle East.

Question 6

What makes Standard Chartered Bank unique?

Accepted Answer

Standard Chartered Bank distinguishes itself in Indonesia through its extensive international network and specialization in cross-border transactions. As one of only a few international banks present in all 10 ASEAN markets, the bank has developed unique expertise in facilitating regional and global trade.

The bank's history in Indonesia spans over 160 years, making it one of the longest-operating foreign banks in the country. Unlike many international banks that focus on retail operations, Standard Chartered Indonesia concentrates on serving multinational corporations and institutional clients, providing sophisticated treasury solutions and trade finance expertise.

From 2004 to 2020, Standard Chartered held a 44.56% stake in PT Bank Permata Tbk, one of Indonesia's major retail banks. However, the bank sold this stake to Bangkok Bank in May 2020 for IDR 17 trillion (US$1.07 billion), allowing it to focus exclusively on its wholly-owned branch operations and optimize performance in the corporate and institutional banking segments.

Question 7

What type of financial institution is Standard Chartered Bank?

Accepted Answer

Standard Chartered Bank Indonesia is classified as a Bank Umum (Commercial Bank) operating as a foreign bank branch under Indonesian banking regulations. The bank is licensed and supervised by the Otoritas Jasa Keuangan (OJK - Financial Services Authority) and Bank Indonesia (BI), and participates in the Indonesia Deposit Insurance Corporation (LPS).

As a foreign bank branch rather than a locally incorporated subsidiary, Standard Chartered operates as an extension of its UK-based parent institution. This structure reflects its focus on serving multinational corporations and facilitating international banking relationships, rather than competing broadly in the domestic retail banking market. The bank specializes in wholesale banking activities including corporate finance, institutional banking, and treasury operations.

Standard Chartered Bank

in Indonesia 🇮🇩

Crypto-Friendliness

All done!

About Standard Chartered Bank in Indonesia