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Standard Chartered: Dubai World’s debt not invoking fear
The UK-based bank said it is risk ready for expansion in the region.
June 8, 2010 9:36 by Rasha Reslan
Standard Chartered bank reaffirmed its commitment to growing its Mideast regional business, Zawya .com reported Tuesday. The UK-based bank joins six other senior creditors in negotiation settlements with Dubai World over debt restructuring.
The bank said it hopes to grow the Middle East’s share of its global business by 20 percent in five years, adding, “We’re a long-term player in these markets. We have risk appetite for the region,” noted the bank’s regional chief exec in an interview with Zawya.com.