Standard Chartered announced on Friday, July 31, 2026, that it will transfer some of its credit card and personal loan customers to Trust Bank starting in September 2026. This move will not affect other Standard Chartered banking products such as deposit accounts, wealth products, and insurance policies.

Trust Bank is a subsidiary digital bank jointly owned by Standard Chartered and FairPrice Group. According to a joint press release, "Trust will continue to scale its digital banking platform and everyday banking propositions, while Standard Chartered will further invest in capabilities that help clients grow, manage and protect their wealth."

A Standard Chartered spokesperson told CNA that clients affected by the transfer will be contacted directly with details about what the change means for them and the next steps. The bank declined to disclose the size of the portfolio being transferred but emphasized that cards and loans remain part of Standard Chartered's broader retail offerings.

The spokesperson added, "The investment supports the expansion of the strategic partnership between Standard Chartered and Trust Bank. By leveraging the complementary strengths of both organisations, we aim to better serve clients' needs across different stages of their financial journey."

There will be no layoffs resulting from the transfer. Both Standard Chartered and Trust Bank committed to working together to ensure a smooth transition for clients and to provide regular updates on developments.

Sources