Balance sheet adjustments played a critical role in the impairment of financial systems in developed economies, by sharply reducing their capacity to provide finance. In turn, this probably contributed to both the magnitude and persistence of the slowdown in growth.
These milestones have extended the customer base, geographic reach and broadened the product range that Standard Chartered offers. The bank has strongly focused on developing its franchises in Asia, Africa and the Middle East through concentration on consumer, corporate and institutional banking. In Kenya, the bank focuses on two core business divisions, Wholesale banking and Consumer banking.