Standard Chartered Bank (Pakistan) Limited ("SCBPL" or the "Bank") was incorporated in 2006 and listed on Pakistan Stock Exchange Limited (PSX).

SCBPL is the oldest and largest international Bank in Pakistan. It is also the first international Bank to be awarded an Islamic banking license and initiated its Islamic banking operations in 2004 in Pakistan.

The Bank serves various market segments through its 40-branch network, focusing on quality. Wealth and Retail Banking offers credit cards, personal loans, mortgage loans, wealth management solutions, and business banking products. In Corporate, and Institutional Banking (CIB), the Bank provides lending activities, cash management, trade finance, security services, treasury management services, and corporate finance and advisory services. As of 31 December 2024, it operates a network of 40 branches across Pakistan, including 2 Islamic banking branches and 1 branch located in the Export Processing Zone. The Bank provides a broad range of banking services, leveraging its global expertise and strong local presence to serve individuals, corporations, and institutions across the country.

SCBPL is owned (98.99%) by Standard Chartered PLC. The remaining stake in the Bank is held by the general public.

Standard Chartered Group has a history of over 170 years in banking and operates through a network of more than 1000 branches and outlets in more than 53 markets. 

Standard Chartered (PLC) credit ratings as of 13th Dec 2024 were ''A+'' with a stable outlook (S&P), ''A3'' with a stable outlook (Moody’s), as of 1st Oct 2024, and ''A'' with a negative outlook (Fitch) as of 19th Jun 2024.

Standard Chartered PLC, incorporated in the UK, is listed on the London Stock Exchange and Hong Kong Stock Exchange along with Bombay and National Stock Exchanges in India and has total assets of US$ 849.6bln at end-Dec24 (end-Dec23: US$ 822.3bln).

SCBPL’s seven-member BoD comprises qualified and experienced professionals. The board comprises four members of the Standard Chartered (SC) Group, including SCBPL’s CEO. Out of the remaining members of the board, three members are non-executive directors.

Mr. Christopher Parsons is the Chairman/Director and Senior Executive Officer for SCB UAE Dubai International Financial Centre ('DIFC') branch since 2018, having extensive experience in various global locations like London, Kiev, and Moscow. Ms. Rola Abu Manneh is the CEO of Standard Chartered UAE, Middle East and Pakistan, and was the first Emirati woman to head a bank in the UAE. Mr. Sheikh Jobe is the CTOO, Ghana and Africa for Standard Chartered Bank's franchise across the Africa Cluster, leading transformation, technology, and operations. Mr. Ehsan Ali Malik is the Chief Executive Officer of Pakistan Business Council (PBC), a research-based business advocacy body representing leading businesses in Pakistan. Mr. Badaruddin Fatehali Vellani is the Senior Partner of the law firm, of Vellani & Vellani, and an Advocate of the Supreme Court of Pakistan with over 40 years of experience in corporate and dispute resolution matters. Mr. Ghias Khan is one of Pakistan's prominent business leaders and CEO of Engro Corporation, a conglomerate with diversified interests spanning petrochemicals, energy, food, and connectivity sectors.

The Board has four Committees: Audit, Human Resources, Risk, and Information Technology. These Committees have defined scopes of work and reporting procedures, and they fulfill their duties as per their terms of reference. The Board held five meetings during the year.

The Bank's external auditors, EY Ford Rhodes, Chartered Accountants, issued an unqualified audit opinion about the annual financial statement for CY24. Furthermore, internal audit function that reports independently to the Audit Committee regularly on compliance with critical policies and procedures and recommends amendments to these policies in line with the industry's best practices.

SCBPL operates through a well-defined organizational structure with fifteen different departments. The Bank operates along a matrix organizational structure whereby all departmental heads report to the CEO along with a reporting line to the cluster heads based in Singapore and Dubai. The cluster heads in turn report to the Global heads.

SCBPL’s senior management team comprises experienced bankers having national and international exposure. Mr. Rehan Shaikh has over 35 years of progressively senior management and diversified experience in banking, including the areas of Corporate Relationship Management, Risk Management, Remedial Management, International Trade Finance, and Branch Management. Mr. Syed Ejaz Alam, CFO at Standard Chartered Bank Pakistan, brings over 15 years of experience in key finance roles, including Financial Controller and Head of Finance – Retail Banking. Mr. Muhammad Rehan Khalid, Country Chief Risk Officer, has 20+ years in corporate risk management with expertise across both first and second lines of defense. Mr. Majid Aziz, COO, is a seasoned banker known for launching greenfield projects, reviving dormant divisions, and leveraging technology to drive efficiency and enhance client experience.

The Bank’s business is overseen and managed by the country management team (CMT), which consists of the CEO, CFO, COO, and CCRO and leaders from different business units, products, and support functions. The CMT is accountable for supervising and controlling the Bank’s operations. 

Standard Chartered Bank (Pakistan) Limited (SCBPL) has enhanced its operational efficiency and customer experience through its in-house developed Electronic Business Banking System (eBBS)—a centralized, standardized platform deployed across all SCB branches. In a major milestone, SCBPL has become the first to migrate its Core Banking System to Atlas, a cloud-ready, modern, and scalable solution that upgrades the bank’s technology stack to the latest standards.

The Bank’s Enterprise Risk Management Framework (ERMF) promotes a strong risk culture and aligns strategic decisions with its approved Risk Appetite, using a structured approach to manage key risks such as credit, market, operational, and compliance risks. A Three Lines of Defence model ensures effective risk management and governance, supported by dedicated teams led by the Country Chief Risk Officer (CCRO) and other senior risk heads. Oversight is maintained through the Board, the Board Risk Committee (BRC), and specialized executive committees (e.g., ERC, ALCO), ensuring thorough risk identification, monitoring, and control.

During the year, Pakistan's Banking sector's total assets posted growth of ~15.98% YoY whilst investments surged by ~14.68% to PKR ~29.4trln (endDec23: PKR ~25.6trln). Gross Advances of the sector recorded growth of ~29.11% to stand at PKR ~16.914trln (end-Dec23: PKR ~13.101trln). Non-performing loans witnessed an increase of 7.35%% YoY to PKR ~1,067bln (end-Dec23: ~994bln). The CAR averaged at 20.4% (end-Dec23: 19.4%). Looking ahead, given the expected monetary rate cut and high cost environment banks are likely to sustain some dilution in profitability by CY25.

SCBPL, a medium-sized Bank and holds a customer deposit base of PKR 801bln other than financial institutions at end-Dec24 (end-Dec23: PKR 698bln). On such basis, the market share of customer deposits of the Bank remained intact at 3% (end-Dec23: 3%).

During CY24, SCBPL’s NIM stand at PKR 93.51bln (CY23: PKR 94.16bln), where markup income recorded an increase of 5% YoY to stand at PKR 159.13ln (CY23: PKR 151.85bln). The Bank’s asset yield inclined to 18.3% (CY23: 19.1%), however, the spread of the Bank showed a small dip to 10.3% (CY23: 11.5%) inline with the market rates.

During CY24, non-mark-up income increased by 85% to stand at PKR 24.66bln (CY23: PKR 13.32bln). Gain on securities and friegn exchange income has majorly contributed to the increased no markup income. Non-markup expenses increased by 18.21% YoY to stand at PKR 22.46bln (CY23: PKR 18.99bln). The non-markup income to total income increased significantly up to 21% (CY23: 12.4%). The increased non-markup expense is driven by the operating expense of the Bank. Subsequently, the net profit stood at PKR 46.07bln (CY23: PKR 42.62bln). The PAT remained intact across the industry due to the declining interest rate environment however, the Bank showed 8% increase in the net profitability during the year. 

The Bank is dedicated to investing in digital capabilities and infrastructure to elevate clients' banking experience through innovative solutions. A strategic focus remains on strengthening control and compliance, fostering a robust culture, and optimizing systems. There is full commitment to achieving sustained growth by consistently prioritizing clients and the product suite, adopting a prudent approach to balance sheet development, and delivering best-in-class services. Despite a challenging external environment, marked by economic recovery pace dependent on improved external flows, domestic and geopolitical factors, and global commodity prices, strong business fundamentals will enable the support of clients and employees while ensuring their needs are at the core of operations. Having significantly strengthened controls and conduct, the institution is well-equipped to manage risks, capital, and liquidity, with proactive measures positioning it to capitalize on future opportunities.

During CY24, the advances portfolio shrank by 21%, reaching PKR 171.57bln from PKR 220.18bln in CY23. The Bank continues to evolve with changing economic conditions, exploring diverse avenues for growth and income generation. Its strategic approach distinguishes it from other commercial banks that primarily focus on lending to SMEs and individual clients. This decrease was reflected in the markup from the advances in addition to the decrease in policy rate (CY24: PKR 41.97bln; CY23: PKR 44.83bln). The ADR also showed a declining trend and was reported at 20% (CY:23 30.6%). The Bank reported NPLs of PKR 16.8bln (CY23: 21bln).

At the end of Dec-24, the Bank’s investment book represented significant growth of 188%, and it is 62% of the total assets. Government securities continue to dominate the investment portfolio, representing 99.8%. Government securities contain Market Treasury Bills (PKR 618.68bln), PIBs (PKR 794.4mln), and GoP Ijarah Sukuk (PKR 29.27bln).

The Bank currently maintains a liquidity buffer that is sufficient to cater to any stress in the economy. 99.8% of SCBPL's investment portfolio consists of government securities. Additionally, the overall liquidity ratio stood at 87.9% (CY23: 45.1%). The current account ratio (CA) stood at 48% (CY23: 51%), the saving account ratio (SA) stood at 49% (CY23: 46%), and the CASA ratio stood at 97% (CY23: 97%).

The Bank remains well-capitalized, maintaining strong buffers above regulatory requirements. As of end-December 2024, the Capital Adequacy Ratio (CAR) stood at 23.5% (CY23: 20.1%), with a Tier I CAR of 20.6% (CY23: 17.8%), in full compliance with SBP’s minimum thresholds. The Bank is committed to sustaining capital ratios above the regulatory benchmarks to ensure robust risk absorption capacity. The equity base of the Bank stood at PKR 117.72bln at the end of CY24 (CY23: PKR 96.22bln).