Standard Bank in discussions with ICBC over exiting London-based joint venture – Reuters.com


Clients at an ATM at a branch of South Africas Standard Bank in Cape Town, March 15, 2016. REUTERS/Mike HutchingsRegister now totally free limitless access to Reuters.comRegisterJOHANNESBURG, March 11 (Reuters) – South Africas Standard Bank (SBKJ.J) has actually begun discussions with the Industrial and Commercial Bank of China (ICBC) (601398. SS) around leaving its 40% stake in the two loan providers London-based joint endeavor ICBC Standard Bank, president Sim Tshabalala stated on Friday.Standard Bank has been trying to leave the endeavor, an antique of its failed bid to end up being an international emerging markets lender, for some time, however been restricted by the regards to its arrangement with ICBC.The pertinent legal term has actually now ended, Tshabalala said in the groups results discussion on Friday.Register now free of charge unrestricted access to Reuters.comRegisterReporting by Emma Rumney
Editing by Nqobile DludlaOur Standards: The Thomson Reuters Trust Principles.


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