Updated Tuesday, May 13, 2008 0:00 am TWN, Bloomberg

Standard Chartered to boost China outlets by 60%: Sands

LONDON -- Standard Chartered Plc, the U.K. bank that makes most of its profit in Asia, aims to increase its number of outlets in China by 60 percent this year, said Chief Executive Officer Peter Sands. The London-based bank hopes to have 60 branches and sub- branches in China by the end of 2008, from 38 in late last year, Sands said in an interview with Bloomberg Television on May 10. Standard Chartered invested US$6 million in its China consumer banking unit last year, Sands said.
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