- REUTERS/Gene Blevins
Investment bank Standard Chartered is reportedly mulling over whether to raise a large amount of capital, as it struggles against headwinds from the commodity price slump and emerging market slowdown.
According to Bloomberg, the amount in question would run to at least $4 billion (£2.61 billion) and could run to $8 billion (£5.22 billion).
As a bank with colossal exposure to developing economies in Asia, it’s felt the slowdown of the region and emerging markets more generally.
According to the report, a decision over whether to raise the capital will come after the Bank of England publishes results from its latest round of stress tests are published at the beginning of September.
The news broke just as markets closed, sending shares through the floor after a relatively stable day:
- Investing.com, Business Insider