London, May 13, 2026, 14:02 BST
- Singapore Gulf Bank has struck a strategic banking partnership with Standard Chartered, aiming to upgrade multi-currency payment capabilities and settlement flows in emerging markets.
- Standard Chartered Capital Saudi Arabia has wrapped up the requirements needed to manage investments and operate funds, a notice from the Saudi Exchange showed.
- Standard Chartered snapped up 782,380 ordinary shares on May 12. The buyback program had already used up $942.9 million as of the previous close.
Standard Chartered PLC just slipped two new pieces into its Gulf and Asia focus: a payments partnership with Singapore Gulf Bank, plus a regulatory nod for investment management in Saudi Arabia. The lender keeps sending capital back to shareholders.
These steps are taking on new importance for Standard Chartered, which wants to prove its persistent bet on cross-border banking across Asia, Africa and the Middle East can still deliver growth—even as the Iran war, volatile rates, and tighter credit are putting banks exposed to the region under fresh pressure.
Singapore Gulf Bank, operating under Bahrain’s digital wholesale banking framework and backed by Whampoa Group alongside Mumtalakat, said Tuesday it’s teaming up with Standard Chartered. The aim: sharper multi-currency offerings, more efficient payment rails, and better settlement flows across emerging markets. According to the bank, the push zones in on the Middle East-Asia corridor—a region seeing brisk digital asset action, where fast settlement is a key draw.
Singapore Gulf Bank CEO Shawn Chan put it bluntly: “Reliable, high-speed settlement is a necessity for global businesses.” Yet, he flagged persistent snags for emerging markets, where “complex multi-layered intermediary routing” still holds up transactions. Karine Zakhour at Standard Chartered, who leads banks and broker dealers for the Middle East and Pakistan, pointed to accelerating cross-border flows through growth corridors. She said Standard Chartered’s clearing network is equipped for “real-time, transparent settlement.” Sgb
Saudi Arabia saw another Gulf development: Standard Chartered Capital Saudi Arabia has ticked off the final boxes set by the Capital Market Authority, clearing it to operate funds and manage investments in the country. That regulatory nod lets the bank target both institutional and wealth clients inside the kingdom.
Saudi regulators are lining up with the kingdom’s bigger push to open its markets. Back in January, officials announced plans to let all foreign investors into the capital market starting Feb. 1, dropping the qualified foreign investor model. The move is part of an effort to boost foreign inflows and ramp up market liquidity.
Standard Chartered isn’t pausing its buyback program. According to a filing, the bank snapped up 782,380 ordinary shares on May 12, paying a volume-weighted average price of 1,827.3196 pence. Those shares are set for cancellation. Buybacks, which cut the share count and return capital, remain in play.
Standard Chartered put $942,859,761.66 into buying back its own shares as of London’s close on May 11, according to the filing. Following the latest cancellation, the bank reported a total of 2,211,628,423 ordinary shares outstanding.
Standard Chartered is returning capital after a robust first quarter, posting operating income of $5.9 billion, up 9%. Wealth solutions income climbed 32%. Global banking logged a 19% gain. “A record first quarter performance,” Chief Executive Bill Winters said. Interim finance chief Pete Burrill put profit before tax at $2.5 billion, with return on tangible equity at 17.4%. Standard Chartered Bank
Last month, Reuters noted that Gulf bond issuance played a big role in the profit increase. Winters said Gulf states tapped private markets for over $10 billion in recent weeks, with Standard Chartered acting as an adviser on several deals. “We’re quite optimistic about how that Middle East business shapes up over time,” Winters told reporters. Reuters
The competitive picture isn’t straightforward. Last week, HSBC—Standard Chartered’s bigger rival with an Asia tilt—revealed an unexpected $400 million charge linked to private-credit loans. Citi analysts pointed out that HSBC’s 18% growth in wealth revenues trailed StanChart’s 32% jump, as Standard Chartered ramped up its efforts to bring in more relationship managers.
Risks haven’t faded, and they’re far from minor. Standard Chartered took a $190 million hit in Q1, tied to possible losses from the Iran conflict, according to Reuters. Manus Costello, who handles global investor relations for the bank, described the charge as part of scenario planning—he emphasized it wasn’t due to any “underlying significant deterioration in credit.” Over in China, profits plunged 75% for the quarter, making it clear the wealth push isn’t boosting every region equally. Reuters
Rates remain a moving target. On Polymarket, traders are pricing in an 83% probability the Bank of England stays on hold in June, while the odds for a 25-basis-point hike sit at 18%. Over on Kalshi, the U.S. rate-cuts market is showing a 54.1% chance of no cuts at all in 2026. For banks, a flat or rising rate environment can lift income from loans and deposits—though it also means borrowers may feel more strain.
Investors won’t have to wait long for more details. Standard Chartered is holding an investor event on May 19, following its April 30 first-quarter release. The bank’s 2026 outlook stays in place: reported operating income growth sticking near the low end of that 5% to 7% constant-currency range, and statutory return on tangible equity is seen above 12%.
