Standard Chartered prefers organic growth over acquisitions in India, says CEO PD Singh

Standard Chartered is betting on organic expansion in India rather than acquiring a domestic lender, according to its India chief executive PD Singh.

“In terms of taking over an Indian bank, yes, there is always an option available for a foreign bank to consider expansion by different routes. As of now, I think we are looking at the organic expansion route,” he explained in an interview to CNBC-TV18.

Singh said foreign banks remain an integral part of India’s growth story, bringing capital, expertise and global linkages. “Foreign banks do play a very, very important role in building India. Foreign banks bring in foreign investment into the country,” he said. He pointed out that Standard Chartered has conducted more than 30 roadshows and engaged with over 300 multinational companies to support investments under the Make in India initiative.

The bank, which has operated in India for 170 years, plans to continue strengthening its presence. Singh stressed the lender’s long-term commitment, saying, “We’ve been here for 170 years, and will be here for many, many more years to come.”

He also commented on subsidiarisation, noting that while it is an available path, the bank does not currently see material benefits in pursuing it.

On geopolitical concerns such as the H-1B visa regime and the potential HIRE Act, Singh said it was too early to gauge the impact on global capability centres. “As the headlines change every morning, we are bracing to see what the different solutions to this could be. But as of today, it’s very hard to check on the impact,” he added.