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RETAIL BANKING | Staff Reporter, Singapore

Standard Chartered's premium banking to launch in 10 countries

They will roll out the service in Asia, Africa, and Middle East in 2018.

Standard Chartered Bank is set to offer ‘premium banking,’ a suite of lifestyle benefits for the emerging affluent, a growing class of consumers who are earning enough to start saving and investing, across markets in Asia, Africa and the Middle East in 2018.

The bank’s clients in India have been enjoying the benefits of premium banking since mid-2017 and the bank expects a positive response in other markets as well. The programme will launch in phases in ten countries, with individual market announcements to follow.

Benefits include complimentary entry to more than 800 airport lounges and access to a team of experienced agents on-call to provide clients with expert wealth management and general banking advice.

Fernando Morillo, Standard Chartered’s global head retail products and segments, said “We expect the emerging affluent to be an increasingly important part of our business. They are a diverse group, ranging from single millennials, just getting started in life, to young families, corporate professionals and small business owners.

Eligibility for premium banking is based on criteria including a minimum monthly average funds under management that varies per market.

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