Standard Chartered CEO says no plans to raise capital
HONG KONG (Reuters) - Standard Chartered plc Chief Executive Peter Sands said on Wednesday the bank has no plans to raise capital and is comfortable with its capital ratios.
"I am committed to leading the bank and returning us to a trajectory of sustainable growth," Sands told reporters at the opening of the Asia-focused bank's new wealth management centre in Hong Kong.
The bank is under pressure to improve performance after three profit warnings this year and a 30-percent plunge in its shares. Grim earnings last month showed the tough task facing Sands as he tries to turn around the bank after 10 years of record earnings came to a halt last year.
"The board and I are confident in the strength of management team," Sands added, when asked if the bank needed to make changes.
Standard Chartered's London shares were flat in early trades, while the benchmark U.K. stock index was down 0.4 percent.
(Reporting by Lawrence White; Writing by Denny Thomas; Editing by Kenneth Maxwell)
