StanChart to curb US$2b diamond exposure: sources
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
London
STANDARD Chartered Plc is demanding more loan protection from clients in the Indian and Belgian diamond trade as the bank seeks to tighten standards, according to people with knowledge of the new policy.
After lending about US$2 billion to the industry, the London-based bank is asking diamond-processing clients to get payment insurance or provide 100 per cent collateral, said the people, who asked not to be identified as the matter is private.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
