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StanChart seeking to sell US$4.4b of Asian assets

The bank is speaking with potential buyers for about US$1.4b of stressed loans extended to Indian companies and started a sale of around US$3b of assets in the rest of Asia
Tuesday, April 12, 2016 - 05:50

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In February, Standard Chartered posted its first annual loss since 1989 as revenue fell and loan impairments nearly doubled to the highest in its history.

Mumbai

STANDARD Chartered Plc is seeking to sell at least US$4.4 billion of assets in Asia, people with knowledge of the matter said, as the lender pares its balance sheet after booking record impairments. 

The London-based bank is speaking with potential buyers for about US$1.4

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