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Standard Chartered Bank group executive director Mervyn Davies says a move to align global treasury operations with corporate and institutional banking services will lead to the loss of a small number of jobs.

The alignment was not 'a major issue' and was part of a restructuring programme within the bank, Mr Davies said yesterday.

'What we are trying to do is bring the treasury business closer to the corporate and institutional business,' he said.

'As part of doing that, there are some jobs that will fall away, but just a small number.'

Mr Davies was speaking at the launch of Me Standard Chartered Online, a personalised Internet banking service targeting individuals and small and medium-sized enterprises.

The service will enable customers to access basic banking operations, such as transfers and credit-card payment, as well as make securities transactions online.

The bank has also teamed with financial news provider e-finet so that customers can obtain real-time news and market commentaries for free. Mr Davies hopes that half of the bank's customers will make use of the new online service.

'Half of our customers are using phone banking at the moment.

'We hope that this client base will also feel comfortable using Internet banking,' he said.

According to chief executive and general manager Peter Wong Tung-shing, 75 per cent of the bank's transactions are now conducted on the telephone, ATMs (automatic teller machines) and via remote channels.

He said a business-to-business exchange platform and a small and medium-sized enterprise portal were already in the pipeline, and the second phase of the online banking service was expected to be launched by the middle of next year.

Meanwhile, Mr Davies said 22 creditor banks of insolvent Guangdong Enterprises (Holdings) had to date signed a debt-restructuring agreement.

He urged the remaining creditor banks to sign the agreement before the December 6 deadline.

'Banks that fail to meet the deadline will not be entitled to be additional restructuring considerations from the Guangdong provincial government,' he said.



Small number of Standard Chartered jobs to go