5matters on the record across its booking centres, 2018 to 2019
1.8/523 UHNW client ratings across its booking centres
The editor's opinion
Why Standard Chartered rates 3.3 out of 5
Standard Chartered rates 3.3 out of 5. The figure combines the ratings of its three rated booking centres (the United Arab Emirates, one star; Singapore, three stars; Hong Kong, four stars), each weighted by the number of UHNW client ratings it has received, so a centre where more families bank counts for more. Hong Kong is the strongest at four stars; the United Arab Emirates is the weakest at one star. Its booking entities carry five matters on the record, the most recent in 2019; each is listed below with the centre it concerns. Across its booking centres, 23 UHNW client ratings average 1.8 out of 5.
Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026, Q4 2026 edition. Each booking centre is rated on its own file, from the public record and what clients and their advisers tell us in confidence. The overall rating brings those ratings together; retail products, branches and apps play no part.
Where Standard Chartered stands out
Remediation of past findings has been verified by the regulator. United Arab Emirates
The bank states publicly what it does with third-party payments. United Arab Emirates and Hong Kong
No politically exposed person holds a significant stake. United Arab Emirates and Singapore
No final adverse finding against this licence holder in ten years of regulatory and court records. Singapore and Hong Kong
Deposits are covered by a statutory protection scheme. Singapore
The fee schedule is published in full, so a family can price the relationship before asking. Singapore and Hong Kong
Custody assets are protected by statute in the booking centre, with conditions a family should read. Hong Kong
The custody terms are public and address most of what a family needs to know. Hong Kong
What to weigh
A significant regulatory finding stands on the record in the last ten years. United Arab Emirates
The same kind of failure has recurred. United Arab Emirates
The custody terms are public but silent on re-use of assets and on sub-custodians. United Arab Emirates
Almost no private banking services are published for this booking unit. United Arab Emirates
No fee schedule is published; pricing is given on request. United Arab Emirates
This file does not yet show how custody assets are ring-fenced by law in this centre. United Arab Emirates and Singapore
Only a summary of the custody terms is public. Singapore
Few private banking services are published for this booking unit. Singapore
No public policy on third-party payments or retrocessions. Singapore
Ownership is only partly public. Singapore and Hong Kong
An owner's home jurisdiction carries a mixed official assessment against money laundering. Singapore and Hong Kong
Only part of the private banking range is published for this booking unit. Hong Kong
Whether deposits at this unit fall under a protection scheme is not yet documented. Hong Kong
Whether independent asset managers are served by a dedicated desk is not published. Hong Kong
United Arab Emirates · Standard Chartered Bank, DIFC Branch3 client ratings · 13% of the weight
Singapore · Standard Chartered Bank (Singapore) Limited8 client ratings · 35% of the weight
Hong Kong · Standard Chartered Bank (Hong Kong) Limited12 client ratings · 52% of the weight
PPLI.com rating, weighted across the centres3.3
Each booking centre keeps its own rating, set on its own file. The overall rating is the average of those ratings, weighted by the number of UHNW client ratings each centre has received. A centre whose rating is still in preparation is shown but not counted.
The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice.
The booking centres
Standard Chartered in 3 booking centres
Each booking centre is a separate legal entity, with its own licence, deposit protection, services and fees, and keeps its own PPLI.com rating. Everything on file for them is brought together on this page; open a centre for its own file.
What regulators, prosecutors and courts have decided against the booking entities of Standard Chartered, gathered from the files of all its booking centres, with the status, the amounts as published and a link to the original document. Each entry names the centre it concerns. Claims and investigations still under way are marked as open.
20199 April 2019
FCA fine for AML control failings in UK correspondent banking and the UAE branches
The FCA fined Standard Chartered Bank GBP 102.2 million for AML control failings in its UK wholesale correspondent banking business (November 2010 to July 2013) and its UAE branches (November 2009 to December 2014). The bank received a 30% discount for not disputing the findings. The UAE branches finding is the closest primary-source link to the bank's UAE operations; the source does not single out the DIFC branch.
Standard Chartered failed to ensure its UAE branches applied UK equivalent AML and counter-terrorist financing controls.
Amended and extended deferred prosecution agreement for Iran sanctions violations involving the Dubai branch
Standard Chartered Bank admitted that two former employees of its Dubai branch wilfully conspired to help Iran-connected customers conduct USD transactions from 2007 to 2011, including about 9,500 transactions totalling about USD 240 million for companies of an Iranian national. The 2012 DPA was amended and extended by two years with added cooperation, compliance and disclosure obligations. Overlap: the April 2019 resolutions were coordinated. OFAC's USD 639.0 million was deemed satisfied up to an equal amount by payments to other US federal agencies, and the US Department of Justice fine of USD 480 million was largely credited (the US Department of Justice collected USD 52.2 million). The authorities' figures overlap and are not added together; the US Department of Justice described the total as more than USD 1 billion.
SCB admitted to processing approximately 9,500 U.S. dollar transactions through the United States
Booking centre: United Arab Emirates · Standard Chartered Bank, DIFC BranchUS Department of Justice (with New York County District Attorney)Resolution with admissionForfeiture USD 240 million; Fine imposed USD 480 million; Fine collected by doj after credits USD 52.2 million; Payment to new york county da USD 292.2 millionAdmission of the factsPrimary source
20199 April 2019
Civil settlement of apparent violations of Iran, Burma, Cuba, Sudan, Syria and Zimbabwe sanctions
OFAC settled Standard Chartered Bank's civil liability for 9,335 transactions (about USD 437.6 million) from June 2009 to June 2014 for USD 639.0 million, deemed satisfied by payments to other US federal agencies, plus USD 18.0 million for Zimbabwe-related apparent violations. OFAC states the majority of the conduct concerned Iran-related accounts at SCB's Dubai, UAE branches.
The majority of the conduct concerns Iran-related accounts maintained by SCB's Dubai, UAE branches.
NYDFS consent order and fine for sanctions violations involving the Dubai branch
NYDFS fined Standard Chartered Bank USD 180 million, describing Dubai staff helping an Iranian front company evade detection and compliance failures over payment instructions sent through a Dubai branch fax system. The NYDFS headline figure combines its fine with the Manhattan DA payment; the page metadata shows an inconsistent figure. Overlap: the April 2019 resolutions were coordinated. OFAC's USD 639.0 million was deemed satisfied up to an equal amount by payments to other US federal agencies, and the US Department of Justice fine of USD 480 million was largely credited (the US Department of Justice collected USD 52.2 million). The authorities' figures overlap and are not added together; the US Department of Justice described the total as more than USD 1 billion.
Standard Chartered is paying DFS a $180 million fine
Penalty for weak controls over trust accounts moved from Guernsey before the Common Reporting Standard
The Monetary Authority of Singapore fined Standard Chartered Bank SGD 5.2 million on 19 March 2018, through its Singapore branch, for 21 breaches of MAS Notice 626 on anti-money laundering, and fined the sister company Standard Chartered Trust (Singapore) Limited SGD 1.2 million. MAS found inadequate risk management and controls over the transfer of customer trust accounts from Standard Chartered Trust (Guernsey) to Singapore in December 2015 and January 2016, just before Guernsey adopted the Common Reporting Standard, with the tax-avoidance risk not adequately assessed and suspicious transaction reports filed late. MAS noted that the branch reported its internal review to MAS on its own initiative and that both entities took prompt remedial measures.
Matters concerning other entities in the group (5)
202123 April 2021
Penalty on the Guernsey trust company over client transfer requests and control failings
The Guernsey Financial Services Commission fined Standard Chartered Trust (Guernsey) Limited, a sister company of this bank now in liquidation, GBP 140,000 by a decision of 4 June 2020, published on 23 April 2021 with an early settlement discount. The statement records client requests to transfer or terminate structures worth USD 1.4 billion, covering 53 mainly Indonesian client structures, and says most failings began before September 2016.
Shown for context only: the decision concerns Standard Chartered Trust (Guernsey) Limited, not Standard Chartered Bank (Singapore) Limited, and does not count towards the rating of the booking centre or of the group.
Penalty for inadequate sanctions controls and failure to disclose sanctions risks
On 9 April 2019 the US Federal Reserve Board fined Standard Chartered plc and Standard Chartered Bank, the parent companies of this bank, USD 164 million for inadequate sanctions controls and for failing to disclose sanctions risks to the Federal Reserve. The firm must improve its US compliance programme and may not re-employ the individuals involved.
Shown for context only: the decision concerns Standard Chartered plc and Standard Chartered Bank, not Standard Chartered Bank (Singapore) Limited, and does not count towards the rating of the booking centre or of the group.
Reprimand and HK$59.7 million fine for IPO sponsor due diligence failures (China Forestry, 2009 listing)
The SFC fined the group's securities affiliate, not the bank, for failing to verify China Forestry's forestry assets, rights, legal compliance, insurance and customers as joint sponsor. Recorded for context only; it does not attach to Standard Chartered Bank (Hong Kong) Limited.
Shown for context only: it concerns a different company in the same group.
reprimanded and fined Standard Chartered Securities (Hong Kong) Limited (Standard Chartered Securities) $59.7 million
Financial penalties for 28 breaches of MAS Notice 626 (AML) in 1MDB-related review
MAS imposed financial penalties of S$5.2 million on Standard Chartered Bank, Singapore Branch for 28 breaches of MAS Notice 626 found in its 1MDB-related inspection. MAS said the lapses were serious but it did not find pervasive control weaknesses or deliberate misconduct, and directed an independent review of rectification and staff discipline.
Respondent was Standard Chartered Bank, Singapore Branch, a branch of the UK licence holder; private banking moved to Standard Chartered Bank (Singapore) Limited on 13 May 2019, so the finding is shown for context and does not count against this entity.
MAS has imposed on SCB financial penalties amounting to S$5.2 million for 28 breaches of MAS Notice 626
Independent party to verify rectification and report to MAS; management to discipline staff.
NYDFS consent order: US$300 million penalty for failing to remediate AML transaction monitoring; suspension of dollar clearing for high-risk retail clients of SCB Hong Kong
NYDFS found that Standard Chartered Bank had not fixed AML transaction monitoring problems required under its 2012 settlement, and the monitor found many missed high-risk transactions originated from the Hong Kong subsidiary and UAE branches. The order imposed US$300 million, extended the monitor, and required SCB New York to suspend dollar clearing for high-risk retail business clients of SCB Hong Kong. The respondent was the UK parent bank, not the Hong Kong subsidiary.
Shown for context only: the order was against Standard Chartered Bank; the Hong Kong subsidiary's clients were affected.
SCB NY will suspend its dollar clearing operations for high-risk retail business clients of SCB Hong Kong.
Remediation plan, extended monitor engagement, enhanced due diligence for dollar clearing.
What clients meet at Standard Chartered across its booking centres, read from complaint registers, ombudsman decisions and court records, independent reporting and what clients and their advisers tell PPLI.com in confidence. Announcements by the bank, awards and marketing material are left out.
UHNW client ratings
1.8 out of 5, based on 23 client ratings across its booking centres.
United Arab Emirates2.3 out of 53 ratings
Singapore1.9 out of 58 ratings
Hong Kong1.6 out of 512 ratings
What clients report
United Arab Emirates. The part of the legal entity's record that touches clients is the MAS penalty of March 2018 on its Singapore branch, which found that the tax-avoidance risk of moving customer trust accounts from Guernsey had not been adequately assessed. Its other matters, resolved in April 2019, concern sanctions controls involving the Dubai branch rather than complaints by clients.
Singapore. Two claims against the bank have reached the Court of Appeal of Singapore and both ended in its favour. On 21 August 2024 the court upheld the bank's refusal to pay Winson Oil Trading under a letter of credit, finding the presentations fraudulent, and on 11 March 2026 it dismissed claims by the liquidators of Blackstone Asia Real Estate Partners, an account holder, over alleged 1MDB fund flows on a point of standing, without any finding on the bank's conduct. In August 2026 MAS banned a former relationship manager for four years after her February 2024 conviction for viewing a customer's information on colleagues' computers, and the bank was named only as her former employer.
Hong Kong. On 25 November 2020 the SFC banned a former private banking relationship manager, Pang Hon Pan, for 21 months after an HKMA investigation, for falsely declaring to the bank on seven occasions that he held no securities account. No finding was made against the bank, which had reported the misconduct to the HKMA itself.
Worth raising with the bank
United Arab Emirates. Ask how sanctions screening at the DIFC branch changed after the April 2019 resolution of sanctions violations involving the Dubai branch, and who reviews payments linked to sanctioned countries today.
United Arab Emirates. Ask how the bank handles requests to move trust or account structures between jurisdictions around changes in tax reporting, given the MAS penalty of March 2018 over trust accounts moved from Guernsey before the Common Reporting Standard.
Singapore. Ask which Standard Chartered company will hold your account and any trust, since the March 2018 MAS penalties over trust accounts moved from Guernsey fell on the Singapore branch of the parent and on the group trust company rather than on the bank.
Hong Kong. Ask how the bank monitors relationship managers' personal securities accounts, after the SFC ban of November 2020 on a former private banker who falsely declared he held none.
Financial standing
Credit ratings published by the agencies for the companies named in the centre files, dated by the latest agency or bank document that confirms them
The SFC banned Pang Hon Pan, a former private banking relationship manager of Standard Chartered Bank (Hong Kong) Ltd, for 21 months after a referral by the HKMA.
International Adviser reported SGD 6.4 million in MAS penalties on the Singapore branch of Standard Chartered Bank and on Standard Chartered Trust (Singapore) over the Guernsey trust transfers.
What it costs
What Standard Chartered charges, centre by centre
Fees are set by each booking entity, so they are shown centre by centre. Two of the three centres of Standard Chartered publish a fee schedule, read on 6 November 2026 from the documents linked under each table. To compare banks fairly we put every published fee in US dollars at the same indicative rates and apply it to the same reference amounts, then rate each fee against the average of the other banks that publish it. Five stars is the lowest fee, one star the highest. Terms a family actually negotiates are often different, and a bank can change its schedule at any time.
The published fees side by side
Fee
Singapore
Hong Kong
Other banks
Custody and safekeepingeffective rate on USD 25 million
0.20% a year
0.20% a year
0.30% a yearaverage of 38 other banks
Equity tradecommission on a USD 250,000 trade, major exchange
1.00%
1.00%
0.80%average of 47 other banks
Bond tradecommission on a USD 500,000 trade
1.50%
3.00%
0.93%average of 42 other banks
Third party fund subscriptionfee on a USD 250,000 subscription
3.00%
3.00%
1.34%average of 42 other banks
Currency conversionmargin on a USD 1 million spot conversion
0.10%
1.00%
0.73%average of 30 other banks
Minimum annual feeper year, or fee below the asset threshold
USD 5,000 a year
USD 5,000 a year
USD 4,320 a yearaverage of 38 other banks
Outgoing international transferper transfer, standard
USD 30
USD 25
USD 57average of 61 other banks
Transfer of securities to another bankper position
USD 100
USD 100
USD 127average of 38 other banks
Lombard loan marginmargin over the reference rate
Overdraft 4.00% above the applicable interest rate
Overdraft 4.00% above the applicable interest rate
Not compared
Discretionary mandateeffective rate on USD 12.5 million, balanced profile
Not in the schedule
1.50% a year
1.22% a yearaverage of 25 other banks
Each fee is rated against the average of the other banks that publish it: five stars is the lowest, one star the highest. The schedules, their dates and what each leaves out are listed centre by centre below.
United Arab Emirates · Standard Chartered Bank, DIFC BranchCentre file
Pricing not published
No fee schedule is published for this booking centre; pricing is given on request.
Singapore · Standard Chartered Bank (Singapore) LimitedCentre file
Price level of the published fees8 fees compared with the other banks that publish them
Not in the published schedule: discretionary mandate, advisory mandate, account maintenance, closing the account.
Third party payments. The schedule states: “Standard Chartered may receive up to 70% of the total annual management fee from the fund manager”
Hong Kong · Standard Chartered Bank (Hong Kong) LimitedCentre file
The reference relationship, at Standard Chartered's list prices
USD 237,500 a year
95 basis points for custody and a discretionary mandate (custody USD 50,000, discretionary mandate USD 187,500)
With the trades, conversions and transfers of the reference year added at list price: about USD 478,100 a year, 191 basis points.
against 22 other banks on custody and mandate fees
Price level of the published fees9 fees compared with the other banks that publish them
Not in the published schedule: advisory mandate, account maintenance, closing the account.
Third party payments. The schedule states: “Investment fund trailer fees will be dependent on the investment fund's management fee as outlined in the fund prospectus ... are generally capped at 70%.”
How the comparison works: USD 25 million booked with the bank: half under a discretionary balanced mandate, half in custody with advice; 24 equity trades of USD 250,000 and 8 bond trades of USD 500,000 a year; 6 currency conversions of USD 1 million; 24 outgoing international transfers. Tiered fees are applied to those amounts tranche by tranche, stated minimums are applied, and amounts are converted at indicative rates of 2026-11-06. Read how we compare fees.
The bank at a glance
Identity, protection and services
Ownership
Group parentStandard Chartered PLC (listed, LSE; HKEX) Source
ControlWidely held; no shareholder with 10% or more Source (2 March 2026)
Holder of 10% or moreTemasek Holdings (Private) Limited, 18.005981% in Standard Chartered PLC Source (2 March 2026)
Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.
Booking entities
United Arab EmiratesStandard Chartered Bank, DIFC BranchDFSA (branch); licence holder Standard Chartered Bank is authorised by the PRA and regulated by the FCA and PRA · Branch of Standard Chartered BankLicence: DFSA-regulated branch
SingaporeStandard Chartered Bank (Singapore) LimitedMAS · Locally incorporated subsidiary · LEI 549300MDYVVHJ8D1DW28Licence: Qualifying Full Bank (locally incorporated subsidiary); also Exempt Capital Markets Services Entity, Exempt Financial Adviser, SGS Primary Dealer Source
Hong KongStandard Chartered Bank (Hong Kong) LimitedHKMA (banking); SFC (registered institution) · Locally incorporated subsidiary · LEI X5AV1MBDXGRPX5UGMX13Licence: Licensed bank, incorporated in Hong Kong Source
Financial strength, as reported
Credit ratingsMoody's A1 (senior unsecured) (stable outlook); S&P A+ (stable outlook); Fitch AA- (stable outlook) Rated entity: Standard Chartered Bank
CET1 ratio14.1% (31 Dec 2025)
Total assetsUSD 920.0 billion (31 Dec 2025)
Shareholders' equityUSD 54.6 billion (31 Dec 2025)
Affluent assets under managementUSD 447.0 billion (31 Dec 2025)
Offered at one or more booking centresOffered by the group, not confirmed at a centreNot located, which does not mean unavailable Checked on the bank's own pages for each centre.
Access and costs
Minimum relationshipUnited Arab Emirates:Not published Singapore:Not published Hong Kong: HKD 8 million Source
US personsUnited Arab Emirates: Not published Singapore: Not published Hong Kong: Not published
Fee scheduleUnited Arab Emirates:Not published Singapore: Published, Effective 1 July 2026 SourceCompared below Hong Kong: Published, Effective as of 1 July 2026 SourceCompared below
Third party paymentsUnited Arab Emirates: Published Source Singapore: Published Source Hong Kong: Published Source
Transfer out termsUnited Arab Emirates: Published Source Singapore: Published Source Hong Kong: Published Source
Protection of client assets
Deposit protectionUnited Arab Emirates and Hong Kong: Not published Singapore: Full banks in Singapore, including local banks and qualifying full banks, are members of the SDIC Deposit Insurance Scheme unless exempted by MAS: S$100,000 per depositor per member. Membership taken from the SDIC rule; the named member list is to be checked. Only eligible Singapore-dollar deposits are insured; deposits in US dollars or other currencies are not covered.
Custody lawUnited Arab Emirates and Singapore: Not published Hong Kong: Client securities held by licensed or registered persons must be safeguarded under the Securities and Futures Ordinance and the Securities and Futures (Client Securities) Rules, as referenced in SFC Code of Conduct para 11.1.
Custody termsUnited Arab Emirates: Published Source Singapore: Not published Hong Kong: Published Source
Before opening an account
Moving the portfolio. Use the published transfer terms as a starting point. Ask the bank to flag positions in your portfolio that would require consent, manual handling or a sale, and to quote the charges separately. United Arab Emirates and Hong Kong
Working with your adviser. The external-manager capability is documented at group level. Ask which entity would sign the mandate, whether your manager can trade directly, and which instructions must come from you. United Arab Emirates
Written pricing. Ask for a quote that covers the account you would actually open, including fees charged by third parties and the cost of moving assets out. United Arab Emirates
Custody agreement. Ask for the agreement covering the account you would open. Which entity holds the securities, what law governs the account, and where would the assets be held if a sub-custodian is used? Singapore
Cross-border eligibility. If a settlor, beneficiary or beneficial owner has U.S. ties, ask the named entity to confirm eligibility for your structure and which investment services it can provide. Singapore
Exit costs. The fee comparison shows USD 100 per position for a securities transfer. Ask what rate would apply to your mandate and whether the receiving bank or a sub-custodian would charge separately. See published fees. Singapore and Hong Kong
Relationship minimum. The published figure cited above is HKD 8 million. Ask whether it applies to the proposed mandate and whether assets in related accounts, entities or currencies count toward it. Hong Kong
Your experience
Rate Standard Chartered
If you bank with Standard Chartered in any of its booking centres, or advise clients who do, your experience forms part of its PPLI.com rating. Please say which centre you deal with. Every response is read by the editor and treated in strict confidence.
Before we publish a significant negative finding that is not already public, we give the bank the facts and time to comment, on the same timetable for every bank. Decisions of regulators and courts are shown as they were published. Corrections we verify are published with the date of the change. Write to [email protected] quoting the reference of the booking centre concerned: United Arab Emirates BK-AE-SC-DIFC-8332A4; Singapore BK-SG-STANDARD-CHARTERED-SINGAPORE-1936F8; Hong Kong BK-HK-STANDARD-CHARTERED-HK-237B3A.
Reviewing this file with us
Families and their advisers read this file before they open an account. It can only be as complete as the documents we can find, and much of what sets a private bank apart, from its custody terms to the way a client team works, is rarely published.
If you represent Standard Chartered, one of our Bank Intelligence analysts can go through the file with you: correct anything that is out of date, add terms and documents that are not yet public, and set out what has improved since our last edition. The review is a paid engagement for the analyst's time and research.
The rating itself stays with our editor and follows what the documents show, so we cannot promise a particular result. When a review changes the file, this page notes that the bank took part, with the date and what was added.
Brought together by the PPLI.com research desk from the files of its booking centres and the public sources listed. The rating is our editorial opinion; read how the overall rating is built.
Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026Methodology 2.4Overall rating weighted by UHNW client ratings
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