Following successful acquisition of Grindlays operation in the Middle East and South Asia by the Standard Chartered Bank from ANZ Banking Group, the Standard Chartered Grindlays Bangladesh operation will be known as Standard Chartered Bank with effect from today.

After acquiring the Grindlays operations in the Middle East and South Asia from the ANZ Banking

Group on July 31, 2000, Standard Chartered Bank has been making progress in terms of aligning the systems and process of the two banks, according to a press statement.

"In this way, the bank in Bangladesh successfully accomplished all aspects of this operation with the approval of Bangladesh Bank," the release said.

The combination of Grindlays with Standard Chartered Bank has created the premier international

bank in Bangladesh and put us in a position to deliver significant benefits in terms of our network, products and customer service," the release quoted Standard Chartered Bank, Bangladesh CEO (chief executive officer) David Fletcher as saying.

UK-based Standard Chartered Bank is now the largest foreign banks in Bangladesh with its presence in Dhaka, Chittagong, Sylhet, Narayanganj, Khulna and Bogra and a combined network of 18 branches and 23 ATMs.