Bloomberg News

Standard Chartered Sees Signs of Rivals Withdrawing, Bindra Says

November 02, 2011

Nov. 3 (Bloomberg) -- Standard Chartered Plc is seeing early signs that some international competitors are withdrawing from its markets, Asia Chief Executive Officer Jaspal Bindra said.

That “not only allows us more market share but also allows us the opportunity to reprice upwards,” Bindra said in a televised interview in Singapore today.

The U.K. company also has no immediate plans to move its headquarters from London, he said.

“We continue to review the situation,” Bindra said. “We are looking at all the triggers that would justify a move, but it’s a big decision.”

To contact the reporter on this story: Stephanie Tong in Hong Kong at stong17@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


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