StanChart to boost airline loans by 75%

[DUBAI] Standard Chartered, the British bank that earns most of its profit in Asia, plans to expand its airline loan book by almost 75 per cent over the next four years as demand for planes in the Middle East and Asia surges.

The London-headquartered bank's airline industry lending grew by US$1.7 billion last year and the bank expects a similar rise this year, Simon Perkins, the bank's chief commercial officer for aviation finance, said from Singapore on Tuesday.

Its airline industry assets, which includes loans and owned aircraft, will grow to US$10 billion over the period from about US$5.8 billion at the end of last year.