Standard Chartered meets UK c

RNS Number : 6674F

Standard Chartered PLC

13 October 2008

 



Standard Chartered PLC 

Standard Chartered meets UK capital requirements

13 October 2008

Standard Chartered Bank, the UK authorised entity of Standard Chartered PLC, meets the capital requirements under the UK Government's banking sector scheme announced last week, and we will ensure it continues to do so.  We are therefore fulfilling our agreed commitments under the scheme.  As previously stated, we do not intend to raise capital under the UK's recapitalisation scheme. 

Standard Chartered PLC also confirms that its other subsidiaries meet the requirements of their relevant local regulators.

The Group is well capitalised and highly liquid. We will continue to manage our capital proactively, raising capital when and where necessary, consistent with regulatory requirements and the growth and needs of the business.

Standard Chartered welcomes the decisive action taken by the UK Government to stabilise the UK banking system as a whole.

For further details please contact:

Standard Chartered

Stephen Atkinson, Head of Investor Relations

Tel: [phone]

Stephen.Atkinson@ standardchartered.com

Arijit De, Head of Media Relations

Tel: [phone] 

Arijit.De@ standardchartered.com 

Ashia Razzaq, Investor Relations, Asia

Tel: [phone]

[e-mail]

Note to Editors:

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

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East.  Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions

Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.

Leading by example to be the right partner for its stakeholders, the Group 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. It employs 75,000 people, nearly half of whom are women. The Group's employees are of 115 nationalities, of which 60 are represented among senior management. 

For more information, please visit: www.standardchartered.com

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