SCB puts in $2.2m for subsidiary

STANDARD Chartered Bank will invest $2.2 million in setting up its capital market subsidiary in Brunei, the bank’s top regional head said recently.

Chief Executive Officer for Vietnam, ASEAN and South Asia Cluster Markets, Nirukt Sapru, told The Brunei Times that the bank is waiting for final approval from local regulators and are expecting to have the subsidiary set up in July this year.

The new unit will be offering investment products and services upon its establishment.