This decision is due to the fact that the Bank wants to serve clients and to use capital more “efficiently”.
MOSCOW, 26 Jan. Banking group Standard Chartered out of business in derivatives on equities (derivatives) and convertible bonds, writes the newspaper the Wall Street Journal with reference to the message Bank.
The Bank explained its decision by saying that he wants to serve clients and to use capital more “efficiently”. While the statement of the question on refusal from non-core businesses.
Representative of Standard Chartered declined to specify the edition, how many jobs will be reduced as a result of the exit from the business and refused to comment on how much the Bank will save on this initiative.
The effects of the release of businesses can be felt in Hong Kong, since the earnings data units of the Bank, mainly generated there, the newspaper said.
“Standard Chartered is returned to the main banking activities. Regulators have a rather negative attitude towards trading activities of commercial banks, so this step will likely help to improve the indicators of capital adequacy, will reduce the volatility of profits and to cut staff and costs”, commented the newspaper, a banking analyst at Mizuho Securities Asia Ltd. Jim Antos (Antos And Jim).
Banking group Standard Chartered was formed in 1969 in London. She currently works in 71 countries, the staff of the Bank exceeds 90 thousand people.