Standard Chartered Bangladesh announced on 8 October that it was exploring a sale of its wealth and retail banking business. Several banks that first showed interest have stepped back, mainly over the cost and complexity of absorbing about 1,500 retail staff.

So far only City Bank has signed a non-disclosure agreement. BRAC Bank, Mutual Trust Bank, Pubali Bank and Eastern Bank declined to sign after preliminary talks. The proposed sale includes roughly Tk 8,000 crore in retail deposits, about 20 per cent of the bank's total.

If no buyer emerges, the bank could shut its retail operation, as HSBC did earlier. It has already cut branches from about 24 to 18 and is pushing digital services.

Source: The Business Standard and other published reports — rewritten in our own words.