Standard Chartered Bank Executive: No Plans For Further Fundraising To Meet Capital Ratio

Standard Chartered Bank PLC (SNTDF) isn't looking to raise fresh funds to meet its capital ratio requirements, Jaspal Bindra, group executive director of the bank, said Monday.

Bindra said the bank's tier-1 ratio is at 11.8% and the requirement for Basel III norms is 7%.

Bindra spoke to Dow Jones on the sidelines of the World Economic East Asia Forum.

He said the bank is waiting for an indication from the U.K. government about the additional buffer Standard Chartered Bank would have to keep over and above the Basel III guidelines.

"There is enough room between 7% and 11.8%," Bindra said adding that the bank may not need to embark on another round of fund raising.

Late last year, Standard Chartered Bank raised GPB3.25 billion to meet Basel III guidelines.

-By P.R. Venkat, Dow Jones Newswires; [phone]; [e-mail]