Standard Chartered is reportedly in final stage of talks with potential buyers to sell its six units in Asia, Europe and the Middle East including its Swiss private banking arm.
Standard Chartered’s other businesses unit up for sale includes Standard Chartered Savings Bank, Standard Chartered Capital in South Korea; retail banking unit in Lebanon; consumer-finance outfit in Hong Kong’s; and consumer banking division in Germany.
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However, names of the potential buyers of the units have not yet been disclosed.
The move is part of the bank’s effort to combat an emerging-markets slowdown and concerns about its financial health, according to a Wall Street Journal report.
Standard Chartered currently generates 90% of its profit in Asia, the Middle East and Africa.
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