Standard Chartered is 38p down at £18.04 after UBS reduced its recommendation. UBS said:We are cutting our rating on Standard Chartered from buy to neutral. 
Share:  <span class="sent"><span class="company">Standard Chartered</span> is 38p down at £18.04 after UBS reduced its recommendation. UBS said:We are cutting our rating on <span class="company">Standard Chartered</span> from buy to neutral.</span> Tweet this   read full story

Private equity investors CVC Capital Partners and Standard Chartered Private Equity Ltd (SCPEL) to acquire joint control of electronics and mechanical fastening activities from Acument Global Technologies (notified June 24/deadline July 30/simplified)  
Share:  <span class="sent">Private equity investors CVC Capital Partners and Standard Chartered Private Equity Ltd (SCPEL) to acquire joint control of electronics and mechanical fastening activities from Acument Global Technologies (notified June 24/deadline July 30/simplified) </span> Tweet this   read full story

Standard Chartered PLC announces that Standard Chartered Bank ("Standard Chartered") has signed an agreement to acquire GE Commercial Financing (Singapore) Ltd, a specialist in SME factoring and hire purchase financing in Singapore. 
Share:  <span class="sent">Standard Chartered PLC announces that Standard Chartered Bank ("Standard Chartered") has signed an agreement to acquire GE Commercial Financing (Singapore) Ltd, a specialist in SME factoring and hire purchase financing in Singapore.</span> Tweet this   read full story

Headquartered in Beijing, the bank had total assets of $1,306 billion as at 31st December 2009. Commenting on the deal, Standard Chartered group chief executive, Peter Sands, says: "This investment is a natural next step in our longstanding relationship … China is a key market for us and our partnership is a strong symbol of our commitment there.". The transaction is subject to the successful completion of the IPO and the proposed investment will be financed from Standard Chartered's internal cash resources. Earlier this week, Standard Chartered announced that that it has been "tracking towards another strong performance" in the first six months of the year. 
Share:  Headquartered in Beijing, the bank had total assets of $1,306 billion as at 31st December 2009. <span class="sent">Commenting on the deal, <span class="company">Standard Chartered</span> group chief executive, <span class="analyst">Peter Sands</span>, says: "This investment is a natural next step in our longstanding relationship … China is a key market for us and our partnership is a strong symbol of our commitment there.".</span> The transaction is subject to the successful completion of the IPO and the proposed investment will be financed from <span class="company">Standard Chartered</span>'s internal cash resources. Earlier this week, <span class="company">Standard Chartered</span> announced that that it has been "tracking towards another strong performance" in the first six months of the year. Tweet this   read full story

Standard Chartered yesterday said that it will invest $500m (£334m) in Agricultural Bank of China, which is in the process of floating its shares on the Hong Kong and Shanghai stock exchanges. The investment is designed to give the FTSE 100 listed bank a stronger foothold in Asia."This investment is a natural next step in our long standing relationship and it underpins our recent agreement to develop business together," said Peter Sands, right, chief executive of the emerging market focused bank. "China is a key market for us and our partnership is a strong symbol of our commitment there.". The initial public offering of Agricultural Bank of China could become one of the largest on record, with the Beijing based group hoping to raise as much as $23.6bn. 
Share:  <span class="company">Standard Chartered</span> yesterday said that it will invest $500m (£334m) in Agricultural Bank of China, which is in the process of floating its shares on the Hong Kong and Shanghai stock exchanges. <span class="sent">The investment is designed to give the FTSE 100 listed bank a stronger foothold in Asia."This investment is a natural next step in our long standing relationship and it underpins our recent agreement to develop business together," said <span class="analyst">Peter Sands</span>, right, chief executive of the emerging market focused bank.</span> "China is a key market for us and our partnership is a strong symbol of our commitment there.". The initial public offering of Agricultural Bank of China could become one of the largest on record, with the Beijing based group hoping to raise as much as $23.6bn. Tweet this   read full story

This investment is a natural next step in our long standing relationship, and it underpins our recent agreement to develop business together. China is a key market for us and our partne rship is a strong symbol of commitment there," StanChart Group Chief Executive, Mr Peter Sands, said. The transaction, however, is subject to the successful completion of AgBank's IPO, the statement added. The consideration, to be financed from Standard Chartered's internal cash resources, would be for a number of shares with a total value at the offer price of the Hong Kong dollars equivalent of $ 500 million, it said. 
Share:  This investment is a natural next step in our long standing relationship, and it underpins our recent agreement to develop business together. <span class="sent">China is a key market for us and our partne rship is a strong symbol of commitment there," StanChart Group Chief Executive, Mr <span class="analyst">Peter Sands</span>, said.</span> The transaction, however, is subject to the successful completion of AgBank's IPO, the statement added. The consideration, to be financed from <span class="company">Standard Chartered</span>'s internal cash resources, would be for a number of shares with a total value at the offer price of the Hong Kong dollars equivalent of $ 500 million, it said. Tweet this   read full story

LONDON (SHARECAST) , Standard Chartered's recent trading statement indicated weaker revenue and cost trends than Nomura Securities was expecting but the broker continues to prefer the stock to fellow Asia focused bank HSBC. Nomura said the underperformance was largely due to the normalisation of strong account income within the wholesale banking division. "We have accordingly downgraded our pre provision estimates, which are offset by lower impairments in 2010," said Nomua analyst Raul Sinha. The broker's "buy" recommendation and price target of 1990p have been maintained, however. 
Share:  LONDON (SHARECAST) , <span class="company">Standard Chartered</span>'s recent trading statement indicated weaker revenue and cost trends than Nomura Securities was expecting but the broker continues to prefer the stock to fellow Asia focused bank HSBC. Nomura said the underperformance was largely due to the normalisation of strong account income within the wholesale banking division.<span class="sent"> "We have accordingly downgraded our pre provision estimates, which are offset by lower impairments in 2010," said Nomua analyst <span class="analyst">Raul Sinha</span>.</span> The broker's "buy" recommendation and price target of 1990p have been maintained, however. Tweet this   read full story

Impairments on other problem assets are also said to have declined over the period. Standard Chartered has now signalled that it is investment mode, hiring more staff, including 450 in its wholesale banking business, as well as employing more relationship managers for its consumer banking arm. One area of concern for analysts is the increasing competition Standard Chartered is facing for Asian depositors, with Nic Clarke of Charles Stanley saying this was something to "keep an eye on" as it could hit the bank's profit margins in the region. However, despite the positive guidance, Standard Chartered shares fell in London market trading, closing the day down 32p – or 1.8pc – at £17.10½. The fall comes in part on the back of a continued market worries about the availability of funding for the banking sector, though Standard Chartered has said it remains well capitalised and has no immediate funding requirement that would necessitate a new issue of shares 
Share:  Impairments on other problem assets are also said to have declined over the period. <span class="company">Standard Chartered</span> has now signalled that it is investment mode, hiring more staff, including 450 in its wholesale banking business, as well as employing more relationship managers for its consumer banking arm.<span class="sent"> One area of concern for analysts is the increasing competition <span class="company">Standard Chartered</span> is facing for Asian depositors, with <span class="analyst">Nic Clarke</span> of Charles Stanley saying this was something to "keep an eye on" as it could hit the bank's profit margins in the region.</span> However, despite the positive guidance, <span class="company">Standard Chartered</span> shares fell in London market trading, closing the day down 32p – or 1.8pc – at £17.10½. The fall comes in part on the back of a continued market worries about the availability of funding for the banking sector, though <span class="company">Standard Chartered</span> has said it remains well capitalised and has no immediate funding requirement that would necessitate a new issue of shares....<span class="sent">One area of concern for analysts is the increasing competition <span class="company">Standard Chartered</span> is facing for Asian depositors, with <span class="analyst">Nic Clarke</span> of Charles Stanley saying this was something to "keep an eye on" as it could hit the bank's profit margins in the region.</span> However, despite the positive guidance, <span class="company">Standard Chartered</span> shares fell in London market trading, closing the day down 32p – or 1.8pc – at £17.10½. The fall comes in part on the back of a continued market worries about the availability of funding for the banking sector, though <span class="company">Standard Chartered</span> has said it remains well capitalised and has no immediate funding requirement that would necessitate a new issue of shares. Tweet this   read full story

Contenders for a controlling stake in Korea Exchange Bank (004940.KS), put up for sale by U.S. fund Lone Star [LS.UL], initially offered much less than the market price for the Korean bank, Seoul Economic Daily said on Thursday. Citing a private equity fund source, the daily reported the bidders in the early phase of the deal, Australia and New Zealand Banking Group (ANZ.AX) and Standard Chartered (STAN.L) (2888.HK), proposed less than 4 trillion won ($3.3 billion) for 51 percent of KEB, South Korea's sixth-largest lender by assets. 
Share:  <span class="sent">Contenders for a controlling stake in Korea Exchange Bank (004940.KS), put up for sale by U.S. fund Lone Star [LS.UL], initially offered much less than the market price for the Korean bank, Seoul Economic Daily said on Thursday. Citing a private equity fund source, the daily reported the bidders in the early phase of the deal, Australia and New Zealand Banking Group (ANZ.AX) and Standard Chartered (STAN.L) (2888.HK), proposed less than 4 trillion won ($3.3 billion) for 51 percent of KEB, South</span> Korea's sixth-largest lender by assets. Tweet this   read full story

The Standard Chartered chief has proved influential in the debate, being at the helm of a bank that survived the financial crisis without a taxpayer bailout. He has previously made the case against breaking up banks . 
Share:  <span class="sent">The <span class="company">Standard Chartered</span> chief has proved influential in the debate, being at the helm of a bank that survived the financial crisis without a taxpayer bailout.</span> He has previously made the case against breaking up banks . Tweet this   read full story