SCPLC - Due diligence of Piraeus Bank Egypt S.A.E.

RNS Number : 4720K

Standard Chartered PLC

15 July 2011

 



Standard Chartered PLC - Due diligence of Piraeus Bank Egypt S.A.E

15 July 2011

Standard Chartered PLC to conduct due diligence on Piraeus Bank Egypt S.A.E

Standard Chartered PLC notes the recent announcement from Piraeus Bank S.A. and confirms that a request has been submitted to the Central Bank of Egypt for it to conduct due diligence into the operations of Piraeus Bank Egypt S.A.E, in which Piraeus Bank S.A. holds approximately 98 per cent, with a view to acquiring those shares.  There can be no certainty as to whether any agreement will be reached between Standard Chartered PLC and Piraeus Bank S.A. The financial impact of any transaction is not expected to be material for Standard Chartered PLC.

ENDS

For further details please contact:

Standard Chartered

Piotr Zajac, Head of Investor Relations

Tel: [phone]

[e-mail]

Jon Tracey, Head of Media Relations

Tel: [phone]

[e-mail]

Note to Editors:

Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered PLC is a leading international bank, listed on the London, Hong Kong and Mumbai stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns more than 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years.

With 1,700 offices in 70 markets, Standard Chartered offers exciting and challenging international career opportunities for more than 85,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. The Bank's heritage and values are expressed in its brand promise, 'Here for good'.

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