The bank's project finance teams can advise on sovereign and regulatory risks, as well as local practices in new markets, says Mr Arora.
"We are the go-to bank for clients who want to go beyond their home base to Asean, Middle East and Africa," he said.The annual turnover of a mid- sized corporate, as defined by the bank, ranges from US$10 million to US$500 million, he said. StanChart has over 45,000 such clients in Asia, Africa and the Middle East."Year-on-year revenue growth of commercial banking in 2018 for Asean was double digit," said Mr Arora.
Asean as a bloc is the fifth largest economy in the world with GDP of US$2.89 trillion in 2018, and is projected to become the fourth largest by 2030. The current top four economies are US, China, Japan and Germany.An example of an Asean mid-sized corporate ready to go overseas is Wings, an Indonesian conglomerate, which makes a range of products for consumers in its home market, like a"mini Unilever".
Huge infrastructure projects in the region are usually won by international companies in China, the US and Europe but they work with local contractors once the contracts are awarded, he said.
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