Standard Chartered to focus on affluent, SME banking; sees 12-15% SME business growth

Standard Chartered Bank is focusing on growing its SME banking portfolio, aiming to tap into the increasing demand for credit from small and medium-sized enterprises. The bank sees significant potential in lending to SMEs, especially with the economic recovery post-pandemic. It plans to expand its personal loan and credit card offerings, particularly targeting NRIs and retail customers. With the rising demand for retail credit, the bank expects robust growth in its loan portfolio across multiple segments, including credit cards, personal loans, and SME loans.