Standard Chartered PLC - Not in EBA stress tests

RNS Number : 5280K

Standard Chartered PLC

15 July 2011

 



Standard Chartered PLC - Not in EBA stress tests

15 July 2011

Standard Chartered PLC not in EBA stress tests; has immaterial European sovereign exposure

Standard Chartered has not been included in the European Banking Association (EBA) stress tests published today, as its insignificant market share in the UK does not meet the threshold for inclusion. Standard Chartered has immaterial direct exposure to European Economic Area (EEA) sovereign risk. All figures below relate to exposures as at 31 December 2010.

Standard Chartered has no direct sovereign exposure to the most troubled European countries and direct sovereign exposure (as defined by the EBA) to the 30 EEA countries is less than EUR 50 million in total.  This includes EUR 31 million of UK sovereign exposure.

As a highly liquid bank and thus a net lender to the interbank markets, Standard Chartered has exposures to major Financial Institutions (FIs) across the world. Total FI exposure (as defined by the EBA) to the EEA 30 is EUR 29.7 billion - of which  around 50 per cent is to the UK and a further 40 per cent is accounted for by France, Germany and Netherlands in broadly equal parts.  We have reduced our unsecured Eurozone bank exposure significantly over the past few months, continuing to move this liquidity and credit into our growth markets across Asia.

Given Standard Chartered's footprint, the vast majority of our balance sheet is committed to businesses, consumers, sovereigns and institutions across our growth markets in Asia, Africa and the Middle East.

ENDS

For further details please contact:

Standard Chartered

Piotr Zajac, Head of Investor Relations

Tel: [phone]

[e-mail]

Jon Tracey, Head of Media Relations

Tel: [phone]

[e-mail]

Note to Editors:

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

Standard Chartered PLC is a leading international bank, listed on the London, Hong Kong and Mumbai stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns more than 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years.

With 1,700 offices in 70 markets, Standard Chartered offers exciting and challenging international career opportunities for more than 85,000 staff. It 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. The Bank's heritage and values are expressed in its brand promise, 'Here for good'.

For more information on Standard Chartered, please visit www.standardchartered.com

 

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