Standard Chartered Moves to Sell Retail Banking Business in Bangladesh as Another Multinational Scales Back Operations

Economy Desk

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Dhaka, September 21, 2026: British multinational bank Standard Chartered has started preparations to wind down its retail banking business in Bangladesh . The bank has taken the initiative to sell its retail banking portfolio in Bangladesh through competitive bidding. Several banks in the country have already shown interest in this process.

However, the decision does not mean that Standard Chartered is completely withdrawing from Bangladesh. The bank plans to continue its corporate and institutional banking operations in Bangladesh. The move to withdraw from retail banking in Bangladesh is part of a strategy to focus more on high-margin corporate, institutional and wealth management businesses globally, bankers said.

Bangladesh Bank informed of the plan

Quoting officials concerned, it was learned that Standard Chartered recently met with the Governor of Bangladesh Bank and verbally informed them of their plans. In addition, it has also informally contacted several potential buyer banks. Interested banks have been asked to prepare to participate when the formal process begins.

The proposed transaction may involve an external consultancy firm assessing the retail banking portfolio. The buyer will then be selected through a competitive bidding process. The process is expected to begin in September or October, according to sources. However, the final timeline or structure of the transaction has not yet been disclosed.

Retail deposits of about 8 thousand crore taka

According to Standard Chartered Bangladesh’s financial statements, the bank’s retail and cottage, micro, small and medium enterprises (CMSME) portfolio size was Tk 8,479 crore at the end of 2025. This is about 28 percent of the bank’s total portfolio of Tk 30,423 crore.

In addition, the bank’s total deposits at the end of 2025 were more than Tk 40,000 crore . Of this, about 20 percent or Tk 8,000 crore was retail deposits . As a result, Standard Chartered’s customer and deposit portfolio could become important to banks interested in acquiring this business.

Interest of domestic banks

Several domestic banks have shown interest in acquiring Standard Chartered’s retail business. According to bankers involved, BRAC Bank and City Bank are among the potential interested institutions. The report also mentions that some banks have already received verbal approval from their boards to participate in the tender.

A large portion of Standard Chartered’s retail customers are relatively high-net-worth or ‘affluent’ customers. As a result, new banks can gain new customers and a significant deposit base by acquiring them.

Not only customers, but also employees and branches can come

It is also not yet clear whether the proposed transaction will be limited to the sale of customers or deposit portfolios. According to a banker involved, the transaction could include everything from customers to employees and branches associated with the retail business.

Although there have been bank mergers and acquisitions in Bangladesh in the past, it is rare for a foreign bank to sell its retail customer portfolio separately. As a result, the proposed transaction could set a different precedent in the country’s banking sector.

HSBC is also winding down retail banking

Standard Chartered’s move comes after another multinational bank, HSBC, announced it would gradually close its retail banking operations in Bangladesh. In July 2025, HSBC said it would exit the retail banking business in Bangladesh and continue its corporate and institutional banking operations.

As a result, there is a trend of decreasing presence of international banks in the country’s retail banking market. However, in the analysis, it is necessary to consider not only the withdrawal of foreign banks from the Bangladeshi market, but also the changing global business strategies of the relevant institutions .

 

Standard Chartered is not leaving Bangladesh

Standard Chartered’s move to sell its retail banking business should not be seen as a complete exit from Bangladesh. The bank plans to continue its corporate and institutional banking operations.

However, the decision by one of the country’s longest-standing international banks to withdraw from the retail business has sparked renewed discussions about the future role of multinational banks in Bangladesh’s banking market and the competitive position of domestic banks.