The Business Bytes
THEBUSINESSBYTES BUREAU
BHUBANESWAR, FEBRUARY 24, 2025
Standard Chartered Bank on Monday announced the inauguration of a Priority Centre within its newly relocated Bhubaneswar branch at Rajmahal Square, here. This strategic expansion aims to enhance banking services for the city’s growing affluent population, underscoring the Bank’s commitment to providing bespoke wealth management solutions for professionals, entrepreneurs, and high-net-worth individuals (HNWIs).
The move aligns with Standard Chartered’s broader vision of strengthening its presence beyond India’s top six cities by expanding into 10 key markets and state capitals. By upscaling its services to cater to the affluent segment and recruiting specialized talent, the Bank seeks to meet the rising demand for premium financial solutions.
Bhubaneswar has emerged as a dynamic economic hub, witnessing rapid growth in technology, real estate, and education sectors. The city is also seeing a notable increase in Non-Resident Indians (NRIs) returning to invest, live, or maintain strong financial ties with their homeland. In response to this evolving landscape, Standard Chartered has relocated its Bhubaneswar branch to a larger, state-of-the-art premise, reinforcing its dedication to supporting local businesses and individuals in wealth management, investment growth, and financial security.
Nitin Chengappa, Managing Director and Head of Affluent Distribution & Branch Banking, Standard Chartered Bank, India, said, “With Odisha’s expanding economy and the increasing demand for sophisticated banking services, we are excited to open a Priority Centre in our newly relocated Bhubaneswar branch. This expansion reflects our commitment to helping clients achieve their financial goals — whether in investments, securing their family’s future, or building their legacy. It also aligns with the Bank’s strategy of focusing on India’s growing wealth and affluent segments.”
He further emphasized, “Standard Chartered seeks to empower clients by providing tailored financial solutions and expert guidance, helping them navigate the complexities of wealth management.”
Standard Chartered Bank is going to open priority centres in 10 cities across the country by the end of this year to serve high net-worth Indian clients. At present, the bank has 14 priority centres in the country to provide services to the affluent population. All new priority centres will be opened in the existing branch premise or relocated branch premises, informed Chengappa.
This expansion follows the Bank’s recent launch of two International Banking Centres in Mumbai and Chennai, designed to serve global Indian clients. These centres provide dedicated advisory services, cross-border financial solutions, and exclusive investment opportunities, reinforcing Standard Chartered’s commitment to offering world-class banking services to the affluent and HNWIs.
With the establishment of the Priority Centre in Bhubaneswar, Standard Chartered continues to strengthen its role as a trusted partner in wealth management, providing seamless banking experiences and expert advisory services to India’s expanding affluent community.
