Standard Chartered mulls raising at least $4bn
BENGALURU, October 30, 2015
Standard Chartered has held talks with bankers on raising at least $4 billion as UK reglators tighten scrunity on lenders with exposure to emerging markets in a second round of stress tests, Bloomberg reported on Thursday.
While the bank has discussed the option of raising capital, it has not made a final decision on whether to proceed with a share sale, Bloomberg reported, quoting people with knowledge of the plan.
Standard Chartered said in August it would raise capital from investors if needed.
Stress tests are designed to check if banks have enough reserves to cope with any financial shock without impacting day-to-day business or having to call on taxpayers for help.
Bloomberg said the bank may need to raise as much as $8 billion to plug a gap in funding.
A spokesman for Standard Chartered declined to comment. - Reuters
