StanChart's axes more than 100 jobs in UAE

Pedro Gonçalves
clock • 1 min read

Standard Chartered Bank's UAE unit has slashed more than 100 jobs in its retail business as the lender increasingly digitises its services and outsources back-office work to low-cost locations such as India, Reuters reported. "We are continuously reviewing our businesses and accelerating our shift towards digital and consumer preferences," a spokesperson of the bank said in a statement, declining to comment on specific details. Standard Chartered's operating income in the UAE in 2018 fell to $637m from $733m in 2017. Lenders in the UAE, the second-biggest Arab economy, are inve...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?