The Business Times
SUBSCRIBERS

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

Published Mon, Apr 11, 2016 · 09:50 PM

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 billion of stressed loans extended to Indian companies including GMR Infrastructure Ltd, according to the people, who asked not to be identified as the information is private. Standard Chartered has also started a sale of around US$3 billion of assets in the rest of Asia, one of the people said.

Chief executive officer Bill Winters has pledged to review all of Standard Chartered's business lines and custo…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Banking & Finance

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here