BRAC Bank And City Bank In Talks To Take Over Standard Chartered Bangladesh Retail Business

Dhaka, September 25, 2026 — Standard Chartered Bank (SCB) plans to wind down its retail banking operation in Bangladesh, according to officials familiar with the matter. Two leading local private lenders — BRAC Bank and City Bank — confirmed that they are in initial talks with SCB regarding the takeover.

🏦 This development follows our earlier coverage of SCB's decision to close its retail banking operations in Bangladesh (see: Standard Chartered Bangladesh Plans To Close Retail Banking, Sell Portfolio, September 21, 2026).

💬 BRAC Bank CEO's Statement

💬 Tareq Refat Ullah Khan, managing director and CEO of BRAC Bank, said: “This was a primary discussion to take over the foreign lender's retail operation. There is no update now about the issue.”

💬 City Bank Official's Statement

A senior official of City Bank, seeking anonymity, confirmed that there was an informal meeting with SCB Bangladesh one and a half months ago about the issue. Key points:

• 🏦 SCB prefers City Bank and BRAC Bank due to their reputations in the market.
• 🏦 When a bank wants to take over a segment of another bank, there are many issues, including valuation, audits and regulatory approval — so it was a preliminary discussion.
• 💬 “We are in the race,” said the City Bank official.

🏦 Bangladesh Bank's Position

Arief Hossain Khan, executive director and spokesperson of Bangladesh Bank, confirmed that they had come to know that this was a plan and that no decision had yet been taken on the issue.

💬 “Standard Chartered is a foreign bank, and it can take any decisions as per its strategy,” he said — adding that the central bank hopes that:

• 👥 Employees of the retail segment will not be terminated without appropriate regulation.
• 👥 There will be no agitation if the lender closes its retail operation.

🏢 SCB Bangladesh's Response

Bitopi Das Chowdhury, country head of corporate affairs and brand & marketing at SCB Bangladesh, said: “Standard Chartered Group continually assesses the efficacy of its global business model and, where necessary, takes action to focus resources where it has the most distinctive client proposition.”

🏛 SCB's 120-Year Bangladesh Heritage

SCB has been operating in Bangladesh for over 120 years:

• 📅 1905: First branch opened in Chattogram.
• 📅 Current network: 18 branches nationwide catering to key economic centres.
• 📅 Services: Corporate banking, retail banking, wealth management, trade finance, and treasury services.
• 📅 Market position: one of the largest foreign banks in Bangladesh.

🌏 HSBC Precedent

In July last year, HSBC announced its decision to wind down its retail banking operations in Bangladesh — setting a precedent for foreign bank retrenchment from Bangladesh's retail banking segment. SCB's potential exit from retail banking follows a similar pattern — with foreign banks finding it difficult to compete with local banks in retail segments while maintaining profitability.

💼 Why BRAC Bank And City Bank Are Interested

BRAC Bank and City Bank are among Bangladesh's leading private commercial banks. Their interest in SCB's retail business is driven by:

• 💰 Customer base acquisition — SCB's retail customers are typically higher-income urban professionals.
• 💰 Branch network expansion — SCB's 18 branches are in prime locations.
• 💰 Product portfolio — SCB's credit card, wealth management, and personal loan products are well-established.
• 💰 Brand association — taking over a 120-year-old foreign bank's operations enhances credibility.
• 💰 Talent acquisition — SCB's retail banking staff are experienced professionals.

💼 Implications For Bangladesh's Banking Sector

The potential SCB retail business takeover has several implications:

• 🏦 Foreign bank retrenchment trend — with HSBC and now potentially SCB exiting retail banking, Bangladesh's retail banking is becoming increasingly local-bank dominated.
• 🏦 Market consolidation — with stronger local banks acquiring assets from departing foreign banks.
• 🏦 Employee transition — the central bank's concern about employee treatment is significant for hundreds of SCB retail staff.
• 🏦 Customer continuity — ensuring SCB's retail customers experience minimal disruption.
• 🏦 Regulatory approval process — any takeover would require Bangladesh Bank and BSEC approval.

📜 Looking Ahead

The talks between BRAC Bank, City Bank, and SCB are still at a preliminary stage. A formal takeover process would involve:

• 📝 Due diligence — on SCB's retail banking portfolio, including loans, deposits, and branch assets.
• 📝 Valuation — of the retail banking business and its components.
• 📝 Regulatory approval — from Bangladesh Bank and potentially BSEC.
• 📝 Employee transition plan — ensuring SCB retail staff are absorbed by the acquiring bank.
• 📝 Customer communication — ensuring smooth transition of customer accounts and services.
• 📝 IT system integration — potentially the most complex aspect of the transition.

For Bangladesh's banking sector, the SCB retail business takeover — if it proceeds — would mark a significant milestone in the sector's evolution — with local banks acquiring the retail operations of a 120-year-old foreign banking institution. The coming months will reveal whether BRAC Bank or City Bank emerges as the successful acquirer — or whether the talks stall at the preliminary stage.