Nov 24, 2008
StanChart in $2.7 billion cash call to boost capital
The dilution from the rights issue was added to by declines in the won currency in Korea — where Standard Chartered has exposure — and news of more structured credit losses, analysts said.
Standard Chartered's core tier 1 capital ratio — a key measure of financial strength — was 6.1 percent at the end of June, when it would have been 7.4 percent had the fundraising been included. Using the same comparison, Its tier 1 ratio would have been 9.8 percent instead of 8.5 percent.
The cash injection by the bank, which has dodged the massive losses from the credit crisis suffered by some of its competitors, came as analysts called for it to beef up its capital cushion to withstand potential losses in Asia and the Middle East.
via StanChart in $2.7 billion cash call to boost capital
| Deals
| Reuters
loading...
loading...
Random Posts
Related Posts - Fannie Mae May Need More Than Billion From U.S. - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times
- China Crisis Highlights: China Construction Bank
- Banking: YES in the lead
- FT.com / Companies / Banks - Deutsche Bank expects full-year loss
- Tarnished Citigroup Looks Like It Could Shine Again - WSJ.com
Related Websites 
