standard chartered finance ltd Management discussions


STANDARD CHARTERED FINANCE LIMITED ANNUAL REPORT 2005-2006 MANAGEMENT DISCUSSION AND ANALYSIS Operations: During the year, your Company continued to provide marketing services to support the financial products offered by the Consumer Banking Division of Standard Chartered Bank (SCB) viz. credit cards, auto overdrafts, mortgage loans, loans to Small & Medium Enterprises (SMEs) and personal loans. The Company, since November 2005, has ceased the activity of provision of securities backed lending to high net worth individuals & entities. The BPO Services operations are now an integral part of your company following the successful merger of the Domestic Business Undertaking (DBU) of SCOPE International Pvt. Ltd into your Company, vide a scheme of arrangement under Sections 391 and 394 of the Companies Act, 1956 approved by the Bombay & Madras High Courts. Income from BPO services constitutes 34% of the total income of SCFL, for the financial year ended on 31 March 2006. Future Prospects: Your Company continues to be a preferred service provider to Standard Chartered Bank. In the coming years we will continue to explore opportunities to expand our scope of activities.