A union chief has stated that on Monday thousands of the workers at Standard Chartered bank's South Korean unit were on strike on Monday. They had protested the management efforts to push ahead with a performance-based pay system.

Union leader Kim Jae Yul said that about 3,000 unionized workers of SC First Bank, or half its employees were on strike and protesting this system.

Singaporeans are very low in wealth confidence as compared to others in this region. This has been informed by a recent survey done by Standard Chartered Bank and Scorpio Partnership on Asia's wealthy.

UK-based emerging market bank, Standard Chartered has acquired the Singapore business of General Electric. And the arm that it has bought is the one that is involved in automotive financing. Total worth of the deal was close to $1 billion and was done since GE is restructuring its financial services arm.

In the first half, that ended in June 2010 India contributed in the tune of twenty percent for Standard Chartered Banks global operating profit. India overtook the Hong Kong market, which so far had the biggest contribution.  

Standard Chartered Plc bank is planning to make an investment of $500 million in Agricultural Bank of China. The bank has made this announcement in the initial public offerings.

Agriculture Bank of China is looking for $20 billion in Hong Kong and Shanghai IPO. More details about the investment by Standard bank can be found on the website.

According to the Standard Chartered PLC on Monday the bank moved on to the ladder with its strong performance in the first half of the year, churned out by its consumer banking and wholesale banking clientele, while the sentiments in the weaker market has been on a low note during this week.

Standard Chartered, on Monday, raised $530 million by issuing 36 million Indian Depository Receipts (IDRs) to a group of cornerstone investors at Rs 104 per IDR as compared with a price range of 100-115 rupees.

This is the first issue of its kind and response received was awesome. The new allotment will be done on June 7 and IDRs will be listed on the local stock exchanges on June 11.