In Good Company

StanChart lifting off from its winter of discontent

Its group CEO says Temasek is fully on board with his plans and the bank is not for sale

In June 2015 when fast-talking American banker Bill Winters was handed charge of Standard Chartered, there were questions about the solvency of the London-headquartered lender with a storied past stretching to the 1860s.

Under his predecessor Peter Sands, the bank had gone on what some considered an excessively aggressive lending spree that left it vulnerable to a slowdown in Asia and a global commodities downturn. Its book of soured loans bulging, customers departing in droves, straining under regulatory challenges and under-performing many of its peers in the key markets that it operated in, particularly Asia, it was no easy challenge.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Sunday Times on March 17, 2019, with the headline 'StanChart lifting off from its winter of discontent'. Print Edition | Subscribe