UK-based banking major, Standard Chartered today reiterated its plan to list shares in Indian stock exchanges saying "it is actively considering" the proposal and is working with local regulators on the matter.
"Standard Chartered is actively considering a listing of its shares in India via an issue of Indian Depository Receipts (IDRs)...We are working with the Indian authorities and a decision on timing will be taken in due course," Standard Chartered said in its interim management statement.
The Group also plans to list shares in China and is "exploring the possibilities", the statement said.
The lender said its mortgage business have performed well in markets like Hong Kong, Korea, Singapore and India where, in general, margins continued to improve.
However, liability margins continued to be under pressure given the low interest rate environment, offsetting mortgage income gains, the bank said.
"...it is ever clearer that our markets in Asia, Africa and the Middle East are emerging more quickly and stronger than a number of markets in the West," Standard Chartered's group chief executive, Peter Sands said in the statement.
In India, StanChart has 90 branches in 33 cities and has a retail customer base of around 20 lakhs.
Comments