Standard Chartered Bank invest over RM 100 million in Malaysia

Standard Chartered Bank is looking to pour in approximately RM 123.3 million (US$30million) in Malaysia.

According to a report on The Star, the money will be used to run a global technology and operation hub under wholly-owned subsidiary, Scope International. The investment is part of the US$3 billion that the bank set aside to strengthen its tech offering, retail and private banking and wealth management.

Quoting StanChart Scope International chief executive officer CEO, Matthew Norris the article said the global shared service in Malaysia provides technology services and support to 54 other nations around the globe. Norris added the investment by the is more than 50% of that was spent last year.

Standard Chartered Bank was established in Malaysia in 1875 and incorporated as Standard Chartered Bank Malaysia Berhad in 1984.

In 2001, Standard Chartered UK established its third global technology and operations centre, Scope International, in Malaysia – the first international bank to do so in the country. Scope International provides dedicated world-class technology, software and system development, information technology support services, banking operations and customer care capability to businesses in Asia, Africa and the Middle East.

Standard Chartered employs close to 7,000 employees in all its Malaysian operations.