Top Stories
StanChart CEO says bank’s global focus still valid amid calls for HSBC break-up
Home > Top Stories > StanChart CEO says bank’s global focus still valid amid calls for HSBC break-up
Global Banking & Finance Review®
Company
By Iain Withers
LONDON (Reuters) – Standard Chartered Chief Executive Bill Winters said the merits of a UK-based, Asia-focused bank remain valid in the face of “unpredictable” geopolitical tensions.
Speaking to Reuters on the sidelines of StanChart’s annual general meeting, Winters said there was a role to be played by banks like StanChart and its larger UK-listed rival HSBC, which is facing fresh calls from its top investor to break itself up.
“We are demonstrating that we’re going to make this model work. It has worked in the past,” Winters said.
“I can only speak to us but it works for us to be a UK-based bank that’s global in nature.”
Winters said he hoped both banks could navigate the tensions which have heightened sharply since Russia’s invasion of Ukraine. U.S. officials remain concerned about China’s refusal to condemn Russia’s actions.
“These are unpredictable things but let’s hope so,” Winters said.
(Reporting by Iain Withers, writing by Sinead Cruise, editing by Elisa Martinuzzi)
Standard Chartered Bank is a British multinational banking and financial services company headquartered in London, focusing on international banking and financial services across Asia, Africa, and the Middle East.
Financial stability is a condition in which the financial system operates effectively, with institutions and markets functioning smoothly, allowing for the efficient allocation of resources and management of risks.
Capital refers to the financial resources that a bank uses to fund its operations and growth, while liquidity is the ability of a bank to meet its short-term obligations without incurring significant losses.
Explore more articles in the Top Stories category
