StanChart in talks to sell six divisions in Asia: report

March 5, 2014 10:30 am

Standard Chartered bank is seeking to sell around six units in Asia, Europe and the Middle East, AFP has reported. Citing people familiar with the matter, the Wall Street Journal said the Asia-focused lender is in “advanced talks” to offload Standard Chartered Savings Bank and Standard Chartered Capital in South Korea, as part of the bank’s efforts to combat an emerging markets slowdown and worries about its financial health. The London-based bank generates 90% of its profit in Asia, the Middle East and Africa.