Buy Standard Chartered Bank (SCBFF)

01/05/2010 10:30 am EST


Jim Jubak

Founder and Editor,

Despite its London headquarters, Standard Chartered Bank (SCBFF) does most of its business outside the United Kingdom. (A good place not to be during the global financial crisis.) In fact 90% of profits come from its business in Africa, Asia, and the Middle East.

Formed by the merger of The Chartered Bank of India, Australia and China and the Standard Bank of British South Africa in 1869, the bank has spent the financial crisis picking up bits and pieces of business from its more hard-pressed peers.

For example, the bank moved into Brazil by acquiring the Lehman Bros. team in that country. I think this is a good alternative to ING as a way to invest in the growth of financial markets in what is still so quaintly called the developing world.
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