StanChart eyes acquisition of RBS’ Asian assets

StanChart’s South East Asia CEO says the bank will want to "take a look at RBS" but says deal a long way off.

According to a Reuters India report, Standard Chartered PLC is primarily looking for organic growth to drive its growth instead of acquisitions. "Our primary way to grow is organic," Ray Ferguson, regional CEO for Southeast Asia including Australia, said. "That is the primary driver. We don't need to do acquisitions in order to grow but there are a lot of opportunities out there. They are not easy, deals are much harder to do, they take longer."

This was the regional CEO’s response when asked whether Standard Chartered, an identified potential bidder, was considering bidding for the Asian assets of Royal Bank of Scotland. RBS has previously announced its plan to exit to more than 30 countries.