Standard Chartered Bank (StanChart) has opened a centre for international banking and priority private clients at Ngee Ann City in Singapore - the first such facility in its global network, it said yesterday.

The centre has been set up for high-net-worth individuals with at least $1.5 million in assets under management with the bank. It offers bespoke solutions and wealth privileges, such as an extended range of investment opportunities and preferential pricing and access to an experienced relationship management team.

Priority private clients can opt for StanChart's global banking and wealth management solutions outside of their markets of residence. These services include investing in overseas markets, making multi-currency payments or funding their children's education.

About 30 per cent of StanChart's priority private clients are also international banking customers.

Mr Dwaipayan Sadhu, head of retail banking Singapore at StanChart, said that international banking is a "huge" contributor to the bank's retail business.

More than 20 per cent of its affluent clients are from around the world and the new centre here will provide "an oasis for them to catch up on their financial needs whenever they are in town", he added.

The number of priority private clients at the bank has more than doubled since the segment was launched in 2018, StanChart said. The bank plans to double the headcount of its relationship managers over the next four years, to support the expected increase in the number of international banking clients.

THE BUSINESS TIMES