20 August 2019

StanChart nears deals to sell several units, WSJ says

Standard Chartered PLC is nearing deals to sell roughly a half-dozen units in Europe, Asia and the Middle East, as part of an effort to combat an emerging-markets slowdown and worries about the bank’s financial health, the Wall Street Journal reported Monday, citing people familiar with the matter. The UK-based lender is in advanced talks to sell Standard Chartered Savings Bank and Standard Chartered Capital in South Korea, it said. It also is preparing to make an announcement soon about having sold its Lebanese retail bank, sources told the paper. Other businesses on the block include StanChart’s Hong Kong consumer-finance outfit called PrimeCredit, its German consumer bank and its Swiss private bank, the report said.

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