You are here

StanChart says "listening carefully" to investors on UK domicile

Friday, April 24, 2015 - 18:21

CharteredBanking240415.jpg
Standard Chartered said it was "listening very carefully" to shareholders on whether the Asia-focused bank should consider moving its headquarters out of Britain following the recent rise in UK bank tax.

[LONDON] Standard Chartered said it was "listening very carefully" to shareholders on whether the Asia-focused bank should consider moving its headquarters out of Britain following the recent rise in UK bank tax.

Rival HSBC said on Friday it has started a review of whether to move domicile out of Britain, and Reuters has previously reported investors want both HSBC and Standard Chartered management to consider a move.

"We continue to keep our UK domicile under review. Although we have no current plans to move our domicile, we are listening very carefully to our shareholders' views on this issue following the latest increase in the levy, the likelihood of any future increases, and its impact on the group's costs," a spokesman for Standard Chartered said on Friday.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom