24th Jun 2016 05:51
LONDON (Alliance News) - Standard Chartered PLC, the FTSE 100 bank that does most of its business in emerging markets, on Friday said it is "well positioned" to weather market volatility in the wake of the UK's vote to leave the European Union.
"Given our capital and liquidity strength we are well positioned to weather the potential market volatility that has followed the vote to leave. There would be negligible direct impact on us or our ability to serve our clients across the UK, Europe, Asia, Africa and the Middle East," a Standard Chartered spokesperson said in an emailed statement.
Shares in Standard Chartered were trading down 11.5% at HKD56.45 in Hong Kong on Friday following the referendum outcome. The Hang Seng index was down 4.4%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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