COVER INTERVIEW
Progress with Purpose Of his more than thirty years in banking, Sunil Kaushal Regional CEO of Standard Chartered Bank, Africa and Middle East (AME), views the past five as the most transformative and rewarding, as he continues to lead the bank through modernisation of services, purposes and principles in these most important and promising regions
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o u h a ve b e e n w i t h Standard Char tered Bank for close to 25 years. How would you define the past five when compared with your previous twenty?
I have spent, as you say, over three decades in banking and nearly a quarter of a century with Standard Chartered. The past five years have been the most transformative and rewarding period at the Bank. There have been several key defining moments for me the last couple years – from navigating the Covid-19 pandemic to accelerating our commitment to digitisation and sustainability. It is safe to say we are currently living and working at an extraordinary and important moment in time. At Standard Chartered, we have spent the last five years strengthening our foundations and demonstrating that we can be a profitable, purpose-led company that is ‘Here for Good’. Throughout the Covid-19 pandemic, we have been able to act upon this for our clients, colleagues and communities. For our clients, we have provided financial flexibility and support measures that will aid in their continued stability and growth. For our colleagues, we looked to safeguard their wellbeing during this time of crisis through mental health programmes and inclusion initiatives.
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Sunil Kaushal, Regional CEO of Standard Chartered Bank, Africa and Middle East (AME)
And, for our communities, we have launched numerous charitable initiatives, including the donation of medical equipment and financial aid, that aimed to directly support the ongoing efforts of local authorities and philanthropic entities in the fight against COVID-19. Another key highlight in the last five years was when we launched our digital only banks. To meet changing consumer needs and demands, we sought to address this by charting a journey towards digitisation and self-disruption in Africa.
Banking and Finance news in the MEA market
After successfully piloting a digital bank in Côte d’Ivoire in 2018, Standard Chartered rolled out digital banking platforms across nine additional African markets. We have also made a substantial effort towards our commitment to sustainability. In 2020, we committed to USD75bn in sustainable financing by 2024, to support our clients as they transition to net zero. In May 2021, we shared the Transition Finance Imperative to lay out how we’ll support specific sectors to transition. And in October 2021, we pledged new targets
