Standard Chartered Bank's Acquisition of American Express Bank (A)
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ICMR HOME | Case Studies Collection
Case Details:
Case Code : BSTR347
Case Length : 18 Pages
Period : 2007
Pub Date : 2009
Teaching Note :Not Available
Organization : Standard Chartered Bank / American Express Bank
Industry : Banking / Financial Services
Countries : UK, USA
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
Background Note
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STANDARD CHARTERED
The history of StanChart (Stanchart) can be traced back to 1853, when Queen Victoria of Great Britain granted a Royal Charter to James Wilson allowing him to set up a bank named Chartered Bank. Chartered Bank started operations in 1858 by opening three branches, one each in Mumbai, Kolkata and Shanghai...
AMERICAN EXPRESS BANK
American Express was established in 1850 in New York as a parcel delivery company. It took advantage of the fact that the US postal services were slow and expensive, to expand its footprint and entered into areas where the US postal services were not available...
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Financial Aspects of the Deal
In 2005, StanChart acquired the commercial banking business of AEB in Bangladesh for US$ 24.5 million in cash. StanChart, which had sold its private banking business in April 1996 to Swiss Bank Corporation mainly to concentrate on the Asian markets and to strengthen its trade finance business, was attracted by the fast growing number of high net worth individuals in Asia and decided to relaunch its private banking business. Asia was expected to have 2.6 million millionaires by the end of 2006...
Excerpts
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