Middle East, Africa key markets for Standard Chartered | GulfNews.com:
"Standard Chartered, which prides itself to be referred as an Emerging Market bank, has been a huge beneficiary of economic boom in China and other key Asian emerging markets in the last decade. The bank’s focus on emerging markets has helped it steer through the financial crisis relatively unscathed while it reported nearly a decade long uninterrupted growth in profits and revenue.
Talk of a slowdown in emerging markets as a result of the Federal Reserve scaling back asset purchases has raised questions on the bank’s revenue and profit growth. To combat a potential slowdown in growth the bank in January announced a major reorganisation leading to the merger of the wholesale and consumer banking divisions.
On a recent visit to Dubai, Peter Sands, Standard Charterd’s CEO dismissed the talk of a sharp slowdown in emerging markets as “really overblown.” He believes the West’s obsession with China means it is overlooking the opportunities in Asean, a massive trading bloc that is forging closer economic ties with each other."
'via Blog this'
No comments:
Post a Comment