Standard Chartered

Standard Chartered, Akasa Air close operating lease of Boeing 737 Max 8

The first four MAX 8s were delivered between December 2022 and March 2023, the fifth is scheduled for delivery in the second quarter of calendar 2023

Standard Chartered closes operating lease of 5 aircraft with Akasa Air

Global banking group Standard Chartered on Monday said it has closed an operating lease of five new Boeing 737 MAX 8 aircraft with domestic carrier Akasa Air. While the bank already provides Akasa Air with corporate banking solutions and services, this is the first aviation finance transaction with the airline, Standard Chartered said in a statement. As part of the deal, structured, financed and arranged exclusively by Standard Chartered Aviation Finance, the first four aircraft were delivered to the airline between December 2022 and March this year, it said. The fifth and final aircraft is scheduled for delivery in the second quarter of 2023, Standard Chartered added. Akasa Air, which started operations on August 7 last year, had 19 Boeing 737MAX8 in the fleet as of March 25, according to an aircraft fleet tracking website. Standard Chartered has further strengthened its relationship with Akasa Air and supported its growth with these new additions to its fleet, said Kieran Corr,

$100 mn repaid to Standard Chartered Bank, encumbrance released: Vedanta

Recently, Vedanta said that it has prepaid all its debt that was due for repayment till March 2023

Adani plans to prepay $500 million loan due in March to banking group

Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year

First Abu Dhabi Bank PJSC explored offer for Standard Chartered

A deal would create a bank with over $1 trn of assets; FAB has been assessing a deal for over 6 months

RBI-ESMA logjam: Banks turn to EU, UK regulators over trade impact concerns

Banks expressed concerns about trade impact, disruptions seen in OIS, bond markets

Bank officers' union protests against violation of HR norms by StanChart

The All India Bank Officers' Confederation (AIBOC) has alleged violation of HR practices by foreign lender Standard Chartered Bank and submitted a detailed memorandum requesting the bank's CEO for immediate remedial measures. The union also alleged that the bank is delaying in recognising Association of Standard Chartered Bank Officers (Kolkata) ASCBO despite several reminders. The right to form association/union is a fundamental right enshrined under Article 19 (1) (C) of the Constitution of India, and any attempt to disavow and thwart the fundamental rights of members of ASCBO will not be condoned by AIBOC, the memorandum said. "The obsolete pay scales and the unsettled service conditions beckons for an overhaul...it is imperative to approve fair and appropriate service conditions for the officers, in consonance with the industrial norms and practices," it said. AIBOC general secretary Soumya Datta urged the management of Standard Chartered Bank to initiate dialogue with the ASCB

StanChart posts 40% jump in quarterly profit, raises income outlook

Standard Chartered posted a 40% increase in quarterly profit, as the emerging markets-focused bank benefited from a sharp rise in income on higher interest rates

Hong Kong homes on the verge of becoming least affordable in 24 years

Hong Kong housing is at risk of becoming the least affordable in 24 years, as rate hikes by the US Federal Reserve drive up borrowing costs in the Asian financial hub

Tata Sons to raise $500 mn in offshore loan, backed by BofA, SMB

Tata Sons will raise $500 million in offshore borrowings, backed by Bank of America, SMBC of Japan and Standard Chartered Bank

Standard Chartered raises India's current account deficit estimate to 3.8%

The British bank raised its CAD forecast for fiscal year ending March 2023 to 3.8% of India's GDP from its earlier estimate of 3.0%

StanChart CEO sees shallow and short recession by early 2023: Here's why

"I think central banks have to take this inflation problem head on," Winters told the Reuters Global Markets Forum (GMF) on Wednesday

Mittals looking to raise $2 bn to buy portion of Singtel stake in Airtel

As per a media report, Mittals are in talks with some major banks like BNP Paribas, Bank of America, Citibank, JPMorgan, and Standard Chartered to raise over $2 billion

Standard Chartered settles case with Sebi in CG Power case; pays Rs 4.97cr

Standard Chartered Bank has settled with markets regulator Sebi a case pertaining to alleged violations of norms in the matter of CG Power and Industrial Solutions Ltd after paying Rs 4.97 crore

Loved by banks, bond trade worth Rs 2 trn faces scrutiny from RBI

Traders argue that the transactions are structured as so-called forward rate agreements, which are permitted by the RBI, allowing them to clear internal compliance checks

Standard Chartered, IATA tie up forh payment platform for airline industry

Standard Chartered said it has partnered with the International Air Transport Association (IATA) to launch a payment platform for airline industry in India.

StanChart full-year profit doubles, to begin $750 mn share buyback

The bank said the improved outlook led it to raise its target of delivering a return on tangible equity of at least 7% by 2023, with its longer-term goal being a double-digit return

Standard Chartered's NBFC arm ramps up retail book fast

The bank has 100 branches in the country, but is obliged to open roughly 40% of its branches in rural areas. An NBFC has no such obligation as of now

Citigroup's Asia retail units may draw bids from DBS, StanChart

Binding bids for Citigroup's retail assets in Indonesia, the Philippines, Taiwan and Thailand are due on Friday, while offers for the India unit are due next week

RBI penalises Standard Chartered Rs 1.95 cr for gaps in customer protection

Regulator found that bank did not credit amounts involved in unauthorised electronic transactions (shadow reversal) and did not report cyber security cases within prescribed time