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Standard Chartered considering Frankfurt as its next EU base after Brexit

Company not to declare an ordinary dividend for 2016

Reuters  |  London 

Standard Chartered is in talks with regulators about making Frankfurt its European base to secure market access to the European Union when Britain leaves the bloc. "We are looking at setting up a subsidiary in the EU to ensure we are prepared," Chairman Jose Vinals said on Wednesday at the Asia-focused bank's annual shareholder meeting in London. "The choice of Frankfurt is very natural as we have a branch there and we do euro clearing there," he said. London-based banks are expected to announce more concrete plans over the next two months ...

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First Published: Wed, May 03 2017. 17:58 IST
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