StanChart expects further cuts to bad loan provisions in China, India

Hong Kong

STANDARD Chartered expects to further cut provisions for bad loans in its key markets of China and India, and is also looking to lower exposure to the heavy industry sector, the bank's Greater China and North Asia chief said on Thursday.

A sharp spike in non-performing loans in China and India had weighed on the Asia-focused bank's balance sheet in the last few years, as a slowdown in the two countries' economic growth hit clients in the infrastructure and commodities sectors.