World Economy

StanChart Selling $4.4b of Asian Assets

StanChart Selling $4.4b of Asian AssetsStanChart Selling $4.4b of Asian Assets

Standard Chartered Plc is seeking to sell at least $4.4 billion of assets in Asia, people with knowledge of the matter said, as the lender pares its balance sheet after booking record impairments, Bloomberg reported. The London-based bank is speaking with potential buyers for about $1.4 billion of stressed loans extended to Indian companies including GMR Infrastructure Ltd., according to the people, who asked not to be identified as the information is private. Standard Chartered has also started a sale of around $3 billion of assets in the rest of Asia, one of the people said.