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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Standard Chartered Plc | LSE:STAN | London | Ordinary Share | GB0004082847 | ORD USD0.50 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.40 | -0.21% | 681.40 | 682.40 | 682.80 | 692.60 | 680.40 | 691.00 | 6,863,408 | 16:35:01 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Commercial Banks, Nec | 18.02B | 3.47B | 1.2403 | 5.51 | 19.1B |
From Apr 2019 to Apr 2024
By Gabriele Parussini and Shefali Anand
Standard Chartered's India unit said Tuesday it appointed a new chief executive, after leaving the position vacant for months.
The lender said it appointed Zarin Daruwala as CEO of its Indian operations, to replace Sunil Kaushal, who was earlier in the year promoted to regional CEO for Africa and the Middle East.
Standard Chartered has been cutting its India exposure partly because of a change in strategy after Bill Winters took over as the London-based bank's CEO in June. The bank has indicated it will further trim its business in India.
Like other banks in India, Standard Chartered has suffered from the weight of bad loans. Of around $20 billion of loans that Standard Chartered's India unit has outstanding, $1 billion worth of loans are at risk of a potential default, according to a person familiar with the matter.
"The external environment in India is quite challenging at the moment and we are seeing stress across the banking sector," a spokesman for the bank said Tuesday. He said that some of the bank's new measures will allow it to continue to support the development of its Indian customers.
Ms. Daruwala is currently president of the Wholesale Banking Group at ICICI Bank, one of India's largest banks, according to a news release by Standard Chartered.
Write to Gabriele Parussini at gabriele.parussini@wsj.com and Shefali Anand at shefali.anand@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 17, 2015 10:44 ET (15:44 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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