StanChart

StanChart, he said, had lost out to Asian rivals in battles to recruit bankers because the FSA code bans it from paying guaranteed bonuses.

StanChart declined to comment on any approaches, but a spokesman said: "We believe we have a strong future as an independent bank. "

StanChart has got a substantial part of its business in relatively strong, fast-growing parts of the world.

Even though StanChart's share price fell, on a day when fear stalked the European banking sector, its outperformance continued apace.

Temasek is understood to have rebuffed the advances because it considers its stake in StanChart to be of financial and strategic importance.

StanChart is has global banking business experiences and an in- dept knowledge and understanding of regional market.

He is stepping up from acting chairman at a time when then there is a danger that animal spirits are settling in at StanChart.

Judging by its relative valuation, it is hard to tell that StanChart is even a bank.

StanChart will finance the deal through a $1. 2bn share placement to be launched on Friday.

Barclays' biggest shareholder is Middle Eastern, while Temasek, Singapore's investment arm, owns a fifth of StanChart.

Nonetheless, StanChart will become only the second big bank to respond directly to the Basel III rules, revealed last month.

Richard Meddings, StanChart's finance director, says the base of branches has created a "very rare and advantaged business model" .

Chinese central bank officials accompanied StanChart bankers on a roadshow to Korea and Japan in June.

StanChart said it sold the commercial paper to Middle Eastern sovereign wealth funds and European pension funds.

A deal with StanChart may be announced later on Tuesday when the UK bank publishes its results.

StanChart is overwhelmingly focused on Asia and Africa; only 3% of its staff are in Britain.

Analysts at Citigroup, however, said yesterday that StanChart may need to raise $5bn of capital, of which $3bn is likely to be equity.

While other UK banks bemoan their exposure to Europe and North America, StanChart is making hay in Asia.

StanChart is commendably boring, yes, but it has blemishes.

StanChart in Singapore said the future of Mr Khoo's stake "is a question for his family" .

StanChart, for its part, has pushed the network model towards investment banking.

StanChart has made four acquisitions in the past two years.

StanChart is the second global bank to form an alliance with Agricultural Bank ahead of the IPO.

StanChart declined to comment.

StanChart is attractive to the Chinese banks because of its profitable and expanding operations in Africa, the Middle East and Asia.

Shares in StanChart fell 78p to 680p as worries over the health of emerging markets also knocked 4. 74 per cent from HSBC's shares.

But here, too, better capitalised groups, such as StanChart, HSBC and Citigroup are keen to fill the gap.

In a strongly rising UK stock market, StanChart shares fell 42. 5p, almost 6 per cent, to 717p.

StanChart has been in talks with Oyak Bank for several months and people familiar with the deal said no formal agreement was imminent.

A senior official in Hong Kong says that neither HSBC nor StanChart is currently in discussions to move there.

Singapore, Hong Kong and South Korea, where the slowdown is expected to be more marked, account for 40 per cent of StanChart's profits.

StanChart will not be the last bank to be stung by the US

STANCHART AND ANZ IN EXCLUSIVE TALKS TO ACQUIRE RBS ASIA ASSETS