12:00 Wed 20 May 2020
Standard Chrtrd PLC - Completion of sale of interest in PT Bank Permata
Completion of sale of interest in PT Bank Permata Tbk
The Group's wholly-owned subsidiary
FURTHER PROGRESS EXECUTING THE GROUP'S STRATEGY
Completion of the Transaction represents significant further progress on the Group's strategic priorities. The sale of Permata will allow the Group to focus exclusively on optimising the performance of its wholly-owned branch in Indonesia, which remains a large and strategically important market for the Group.
In
FINANCIAL IMPLICATIONS OF THE TRANSACTION
Completion of the Transaction will lead to an increase in the Group's Common Equity Tier 1 capital ratio of around 40 basis points, based on its financial results for the period ended
Note:
In this announcement, the conversions of IDR into US$ have been made at the rate of
Enquiries to:
Mark Stride, Head of Investor Relations +44 (0) 20 7885 8596
Julie Gibson, Head of Media Relations +44 (0) 20 7885 2434
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