Standard Chartered Bank supports financial inclusion and sustainability in the Philippines

Standard Chartered Bank (SCB), the oldest international bank in the country, has been helping drive the development of the Philippine economy since 1872 by striving to be an enabler of growth by supporting liquidity, shoring up investor sentiment. As a long-standing partner of the Republic of the Philippines (RoP), SCB supports efforts to accelerate digital transformation and achieve long-term sustainable and inclusive economic growth.

The bank has been a staunch partner of the RoP in advancing its commitment to sustainable development and financial inclusion. SCB was among the banks mandated as joint lead managers and joint bookrunners for the Philippines’ maiden offering of $1-billion Islamic or sukuk bonds. Early this year, the bank supported the government’s $2-billion dual tranche global bond sale. Funds raised from the 25-year sustainability bonds will support the government’s refinancing programs and expenditures in line with the Republic’s sustainable finance framework, where SCB acted as a sustainability structuring bank.

The bank acts as the Republic’s sovereign credit rating adviser since 2010 and has assisted the government in achieving positive rating actions and upgrades, resulting in strong investment grade credit ratings by both S&P and Fitch, establishing the country as a strong investment destination to offshore investors.

Recently, SCB Philippines has been recognized by prestigious institutions and publications reflecting its leadership position in delivering innovative and bespoke banking solutions in response to changing market trends and client needs.

The Asset Triple A Treasurise Awards 2024 recognized Standard Chartered as Best Service Provider as E-Solutions Partner for the third consecutive year, demonstrating the bank’s commitment to invest in platforms and capabilities to deliver optimal client experience. The bank also won Best Solution Healthcare Award for its digital solution to IDS Medical Systems Philippines, Inc. (IDSMED) for the use of Straight2Bank payment link which provides seamless online collections from various InstaPay and PESONet participating firms and Best Solution E-Commerce-Media-Technology Award for its Virtual Account solution deployed to Ksher Philippines to aid in reconciliation and ensuring all collections are accounted for and properly identified.

The bank also won Best Bank for Cash Management in the Philippines at the 2024 Global Finance’s World’s Best Treasury & Cash Management Systems & Services Awards highlighting the bank’s leadership position in transaction banking for product development, breadth of coverage and service excellence.

The bank’s Financing and Securities Services also received recognition as Best Sub-custodian Bank in the Philippines at The Asset Triple A Sustainable Investing Awards 2024 (for the 4^th consecutive year) and Global Finance’s Best Sub-custodian Bank Awards 2024 (for the 5^th consecutive year). These awards highlight the bank’s market leadership through mandates won, product innovation and service quality.

The bank also received the Best Sustainability Bond — Philippines Award for the RoP $1.25-billion sustainability bond issued in January 2023 from The Asset Triple A Awards 2024, testament to SCB’s leadership in bringing innovation to Philippine issuers consistent with our focus on sustainable finance.

The Philippine Dealing System Holdings Corp. & Subsidiaries (PDS Group) also recognized Standard Chartered as among the Top 4 Corporate Issue Manager/Arrangers at the PDS Awards 2024.  The bank was also recognized as part of the Top 5 Fixed Income Dealing Participants. These awards highlight the bank’s contribution to the growth and stability of the Philippine financial markets.

SCB was also recognized Best in Foreign Market Coverage (First Place) for the second consecutive year at the 2023 Fund Managers Association of the Philippines, Inc. (FMAP) Awards highlighting the bank’s capabilities and commitment to serve its clients amid the changing markets.

SCB Philippines Chief Executive Officer Mike Samson reaffirms, “Standard Chartered Bank is committed to support the nation’s development as well as our clients’ growth and strategic aspirations. We will continue to leverage our unique position in the Philippines and the ASEAN region to deliver sustainable growth for all our stakeholders.”

 

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