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Standard Chartered says it meets capital requirements

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Date: Monday 13 Oct 2008

LONDON (ShareCast) - Asia-focused bank Standard Chartered said it meets the capital requirements under the UK government’s banking sector scheme and 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," it added.

The group also confirmed 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," said the group.

Standard added that it welcomes the actions taken by the UK government to stabilise the UK banking system.

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