CPEC to attract banking sector: SCB chief

KARACHI: Standard Chartered Pakistan is looking to double its business in the country, as the China-Pakistan Economic Corridor (CPEC) offers huge investment opportunities to the banking sector, a statement said on Monday.

Bill Winters, Group Chief Executive, Standard Chartered Bank said his bank had an overwhelmingly positive view of Pakistan’s economy where investment and capital continued to grow, especially in the context of the second phase of the CPEC project, where a number of industrial and economic zones would be established.

Bill Winters, Group Chief Executive, Standard Chartered Bank recently met Prime Minister Mian Muhammad Nawaz Sharif and his delegation, at Davos.

They discussed the bank’s commitment to Pakistan and its leading role in the economic development of the country.

The Prime Minister acknowledged the private sector's contribution to the growth of the national economy.

He said foreign exchange reserves were at their highest level and were increasing at a fast pace. This he said was due to the confidence of investors and the robust economy.

The Prime Minister said China-Pakistan Economic Corridor (CPEC) would bring an economic revolution to the entire region.

They also discussed Standard Chartered’s contribution to the country in bringing in consumer Finance products, mortgage products, manpower development, correspondent banking and international trade.