Standard Chartered Bank to support Sri Lanka’s growth story

•  As a super connector bank our ambition is clear; to boost SL through our differentiated international network says Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri

Following the completion of the migration of Standard Chartered Sri Lanka’s Wealth and Retail Banking business to DFCC Bank on 31 July 2026, the Daily FT met with the Bank’s Sri Lanka CEO Bingumal Thewarathanthri to discuss its sharpened focus on corporate and investment banking, its differentiated international network and its continued commitment to Sri Lanka’s growth. Here are excerpts of the interview:

By Nisthar Cassim

We believe strongly in capabilities that are differentiated and not easily replicated. This is why we are sharpening our focus on corporate and investment banking, where Standard Chartered’s international network and specialist expertise can deliver meaningful value to clients.Our proposition is underpinned by Standard Chartered’s values: Do the right thing, Never settle, and Better together

Q: SCB has been in Sri Lanka for 130 years, how has the bank contributed to the country's financial sector in particular over this long period of time? 

Standard Chartered is 170 years old globally and has been present in Sri Lanka since 1892. Over more than 130 years, the Bank has operated through world wars, economic cycles and periods of significant change. Several milestones reflect the depth of our contribution to the country.

 In 1957, Standard Chartered acquired Eastern Bank globally, which also had a presence in Sri Lanka. The subsequent divestment of that business in 1969 led to the establishment of Commercial Bank, in which Standard Chartered retained a 40 percent shareholding for many years before divesting that stake in the late 1990s during the Asian financial crisis.

The acquisition of Grindlays Bank further strengthened the Bank’s presence in this region, including Sri Lanka, establishing Standard Chartered as a leading international bank in the market.

 Standard Chartered has built strong corporate, institutional, wealth and retail franchises in Sri Lanka, with partnerships tested through challenging times. Our longstanding strength in trade was particularly evident during the country’s most difficult economic periods. At a critical point, Standard Chartered was among the few banks able to support the confirmation of letters of credit for the country’s essential imports. This reflects the role we have continued to play in Sri Lanka and the strength of our commitment to the market.

 With a highly skilled, future-ready workforce, Standard Chartered is well positioned to support Sri Lanka’s growth story

Q:  In terms of having seen multiple years, maybe decades of development in Sri Lanka, how has Standard Chartered continued to be a trusted partner for businesses in Sri Lanka, both foreign and local? 

 Over the years, Standard Chartered has contributed across corporate and investment banking, as well as wealth and retail banking. These milestones reflect the Bank’s history and the role it has played in Sri Lanka. We believe strongly in capabilities that are differentiated and not easily replicated. This is why we are sharpening our focus on corporate and investment banking, where Standard Chartered’s international network and specialist expertise can deliver meaningful value to clients.

 Our proposition is underpinned by Standard Chartered’s values: Do the right thing, Never settle, and Better together. These values guide how we serve clients, support markets and uphold the integrity and conduct culture that define Standard Chartered. They also reflect our commitment to people and communities, which remain at the heart of what we do. Standard Chartered is recognised not only for its banking solutions, but also for the integrity, governance standards and strong conduct culture that underpin how we do business. These strengths have helped position us as a trusted partner for clients with complex cross-border needs.

Q: Following the sale of the Wealth and Retail Banking business, the future focus is on corporate and investment banking. How does corporate and investment banking business help in Sri Lanka's economic recovery and growth going forward?  

As a network bank, Standard Chartered operates across more than 50 of the world’s most dynamic markets, with a powerful international footprint that allows us to connect clients, capital and opportunities across key global corridors.

 A key focus is to use our network to help bring investment into Sri Lanka. By working with authorities and stakeholders across our footprint, we can help present the country’s growth story to international investors in a way that supports both the economy and our clients.

A key focus is to use our network to help bring investment into Sri Lanka. By working with authorities and stakeholders across our footprint, we can help present the country’s growth story to international investors in a way that supports both the economy and our clients

Q: What specific values are you bringing to some of your clients in terms of large corporates and multinationals? 

Market access across our footprint is one of our core strengths. Clients that enter the Standard Chartered network become part of a global community that can support their growth beyond Sri Lanka, whether as local corporates expanding overseas or global subsidiaries operating here. This connectivity helps clients reach international markets and access global capital through hubs in Hong Kong, Singapore, London, Dubai, Mauritius and GIFT City, India. These hubs enable us to support clients with the capital and liquidity needed to do business across markets

Q: Does that explain why you decided to focus on corporate investment banking going forward in Sri Lanka?

 Yes. This is aligned with Standard Chartered’s global strategy to focus resources on areas where the Bank has the most distinctive client proposition and can compete most effectively. In Sri Lanka, that means building on our strengths in corporate and investment banking, rather than attempting to be present across every segment.

Standard Chartered has historically been a strong trade bank, with retail capabilities developed over time. However, corporate client needs have become more complex, particularly in an environment shaped by disrupted supply chains, geopolitical shifts, new forms of globalisation, and emerging areas such as AI, enhanced cybersecurity and digital resilience. This requires focused investment. We are therefore directing resources to areas where we have the strongest capability and can deliver the greatest value. As a super connector bank, our strength lies in cross-border connectivity, and this is where we will continue to invest and grow in Sri Lanka.

A strong policy framework and consistency of policy are central to attracting FDI. Across this region, markets that have secured significant foreign investment have typically demonstrated clear, stable policies that support investor confidence and protect long-term investment. Accessible and efficient Government services are an important part of strengthening Sri Lanka’s investment environment

Q: Sri Lanka has achieved some success, but there is a lot more potential. How is the Standard Chartered Bank helping Sri Lanka to increase its own FDI flows? 

A strong policy framework and consistency of policy are central to attracting FDI. Across this region, markets that have secured significant foreign investment have typically demonstrated clear, stable policies that support investor confidence and protect long-term investment.

Accessible and efficient Government services are an important part of strengthening Sri Lanka’s investment environment. We have seen encouraging traction through Port City and other investments, but it is equally important to present Sri Lanka’s investment proposition clearly, consistently and confidently to global investors.

Standard Chartered plays an important role in taking Sri Lanka’s investment proposition to investors across our global network. Many multinational, Fortune 500 and regional companies look to their banks as a first point of contact when assessing where and how to invest. For example, a client in Indonesia considering Sri Lanka may first seek insight from Standard Chartered Indonesia. This gives us a responsibility to present Sri Lanka’s opportunity clearly, help attract investment and support clients as they enter and grow in the market. Over the past 10 to 15 years, we have contributed to Sri Lanka’s FDI journey, including some of the largest post-war investments, and will continue to support the country’s growth agenda.

Over the past 10 to 15 years, we have contributed to Sri Lanka’s FDI journey, including some of the largest post-war investments, and will continue to support the country’s growth agenda

Q: With a new chapter that Standard Chartered Bank will begin, which industries are you prioritising for financing and how are you structuring support for large-scale national projects? 

As a bank, we believe in helping build economies. Our approach is to align with the country’s strategic direction and support sectors that are important to national growth.

 Services are a significant component of Sri Lanka’s GDP, including banking, tourism and logistics, while apparel remains an important part of the country’s export basket. Within this context, Standard Chartered will continue to play a meaningful role in the financial institutions space. As one of the largest US clearer in the country, with significant market share, we will continue to support this important segment, which contributes meaningfully to GDP and services GDP.

 Apparel is another important area where Standard Chartered has a strong market position. Many of these clients also operate across our footprint markets, enabling us to support them as global clients with cross-border needs. FMCG is also a significant sector, including both established companies and emerging players that are increasingly accessing markets across our network. In logistics, Standard Chartered is a leading aviation and shipping bank in Sri Lanka. We also support platform-led businesses, including mobility and tourism booking platforms, which are becoming an important part of the broader economy. This is one way we contribute to the tourism ecosystem, with our corporate finance capabilities also supporting major integrated projects such as Cinnamon Life, which have a broader impact on the economy and the wider tourism value chain. Logistics also presents significant opportunities, and we see strong potential for growth.

As a bank, we believe in helping build economies. Our approach is to align with the country’s strategic direction and support sectors that are important to national growth

Q: Apart from financing, Standard Chartered Bank also brings a lot of expertise into so many other areas in terms of advice, offering market insights, risk management and capital market expertise, what kind of expectation can we have on those areas? 

On research, Standard Chartered has teams across major markets and hubs, supported by dedicated debt capital markets and strategy capabilities. They monitor market developments, data, central bank actions and economic trends, producing valuable insights on a daily and weekly basis. These reports reflect a capability that combines deep local knowledge with global presence and expertise, enabling us to provide clients with relevant insights and informed perspectives.

Sri Lanka has a significant opportunity as a natural “India plus one” location. With India growing at around 6 to 7 percent and supported by a vast supply chain ecosystem, Sri Lanka is well placed to participate in that growth. Standard Chartered Sri Lanka can support this opportunity, backed by our strong franchise in India.

South-South trade is also an important opportunity, now accounting for close to 30 percent of global trade. Sri Lanka’s strategic location gives it a natural advantage in capturing this opportunity, particularly across regional trade and logistics. As a leading shipping and logistics bank, Standard Chartered can play a meaningful role in supporting trade flows and attracting investment into the country.

These are broader national opportunities for Sri Lanka. Policy developments such as greater port capacity, re-exports and a national single window for trade would further strengthen the country’s position. We look forward to continued progress in these areas and are pleased to play the role of trusted adviser to the Government and partner in Sri Lanka’s broader economic growth story.

Sri Lanka has a significant opportunity as a natural “India plus one” location. With India growing at around 6 to 7 percent and supported by a vast supply chain ecosystem, Sri Lanka is well placed to participate in that growth. Standard Chartered Sri Lanka can support this opportunity, backed by our strong franchise in India

Q: Stepping into a new phase, what does the next chapter hold for Standard Chartered Bank in Sri Lanka? And how do you see the bank continuing or even perhaps enhance itself to be the catalyst for economic progress? 

As a super connector bank, our ambition is clear. Our network is home - what we do best is connecting clients, capital and opportunities across markets in a way that is not easily replicated. Having operated in many of these markets for generations, we understand complex economies and can use that experience to advise clients effectively. With a highly skilled, future-ready workforce, Standard Chartered is well positioned to support 

Sri Lanka’s growth story.

– Pix by Upul Abayasekara