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Standard Chartered’s SME Banking recognised at Banker Middle East Product Awards 2012

Bank named ‘Best SME Internet Banking’ and ‘Best SME Foreign Exchange Service’

UAE, 11 April, 2012– Standard Chartered announced today that its SME Banking Business was recognised as the ‘Best SME Internet Banking provider and Best SME Foreign Exchange Service Provider’ for 2012 by Banker Middle East, a leading regional banking and finance publication. The Bank received the awards at a ceremony held recently in Dubai.

The Banker Middle East Product Awards recognise financial products and services for their innovation and their excellent financial results and how they contributed to gain market share for banks operating in the region.

Commenting on the awards, Sadia Saeed, General Manager, SME Banking for the Middle East, Standard Chartered said:

“SMEs in UAE have strong international trade needs. Competitive foreign exchange services and world class online solutions are critical for SMEs to facilitate these needs.  For the last few years, Standard Chartered has invested in its online platform and human resources to develop products and services designed to meet the needs of our customers. With SME’s in the region trading more with the Asia and Africa, than with Europe and the US, we are ideally positioned to leverage our strong footprint in these markets to the benefit of our customers. These awards come as testament to our efforts, and we will continue to support the region’s SMEs by bringing world class services and solutions to the region.”

Standard Chartered Bank launched its dedicated online banking platform Straight2Bank for SMEs in April last year and has been well received by customers. The bank also has a treasury team dedicated to SMEs that helps them manage their foreign currency risks and provide competitive foreign exchange rates.

Standard Chartered’s SME Banking is also one of the key supporters of Dubai SME 100, the first-ever ranking of top-performing and fast-growing SMEs in Dubai. Since April 2011, when the bank announced its plans to step up its activities in the country, Standard Chartered has been introducing innovative and unique products and services designed to meet the specific needs of SMEs in the UAE.