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
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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.
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