Review on Standard Chartered by Chu Divett
Nasty outer room
Standard Chartered bank is a leading UK international banking and finance organization based in London, England. It operates a network of over 1,300 outlets and branches across 70 countries and employed around 87,500 people worldwide. The company is a founding member of the Financial Service Commission (FSC) and is one of the largest banking organizations in the world with a market share of a small percent of overall banking. Standard Chartered's global business and regulatory expertise, its award-winning products and services, and strong market presence enable it to deliver a comprehensive range of products and solutions to meet the changing needs of both businesses and consumers.
Standard Chartered Bank provides a comprehensive range of financial products and services to meet both personal and business needs. The company offers a variety of investment options such as GICs, bonds, money market funds, and savings accounts. It also offers a range of financial products and services including merchant cash advances, commercial loans, corporate loans, retail cash advances, retail cheques, commercial checks, travel money, and cash cards.
There are a number of factors that help to determine a bank's financial strength including its balance sheet and profit and loss statement. Standard Chartered has three main business units namely Commercial Banking, Corporate and Business Services and Consumer Banking. It also offers a number of consumer products and services under the categories of ATM, Banking and Cheque and Money Market. For small businesses and individuals, it offers a variety of services under the categories of Personal and Business Banking. The Personal segment includes personal banking, invoice and payment processing, payroll management, and insurance.
Standard Chartered Bank supplies various types of banking products and services to meet the diverse requirements of its customers. Among the various products provided by the bank are commercial loans, home loans, and auto loans. Commercial loans are required for start-up of a business and are broadly used for purchasing equipment, land, building materials, and furniture. Home loans are required for financing the purchase of real estate.
Commercial loans are either secured or unsecured. In secured loans, one needs to pledge collateral to secure the loan amount. On the other hand, unsecured commercial loans are made without pledging collateral. There are many advantages of using the secured type of commercial finance. It is mainly available for larger business concerns where collateral is not required.
A wide array of products and services are offered by the Standard Chartered Bank. One of the popular finance products offered by the bank is the money market mutual funds. This finance product helps in the saving and spending of money that results in an increase in the income. Money market mutual funds can be used for different purposes such as retirement, spending on vacation, paying off debts, investing in the stock market, etc. The money market mutual funds are a mix of stocks, bonds and commercial paper. It is not easy to select the best money market funds, so it is better to consult with a financial expert.
Pros
- Voluminous first mortgage motivation
Cons
- Unwelcome power of attorney plan
