StanChart pumps US$2.5b into consolidated local unit

Singapore

STANDARD Chartered Bank will be injecting more than US$2.5 billion in common equity tier 1 (CET1) capital into its locally-incorporated unit as part of a business transfer.

The new capital will result in the total capital position increasing by approximately three times with the CET1 ratio of the combined entity staying above 11 per cent, it said on Wednesday. A CET1 ratio measures a bank's capital against its assets.