Home News Featured News Rumors abound of possible Barclays-Standard Chartered merger

Rumors abound of possible Barclays-Standard Chartered merger

Author

Date

Category

- Advertisement -

Reports of a possible merger between Barclays and rival Standard Chartered have emerged, with recent talks occurring between the leadership of these two financial institutions. On Wednesday, May 23, the Financial Times cited two anonymous sources who have confirmed the merger is under discussion. But no bids—whether formal or informal—have been made.

When asked by CNBC, Barclays declined to comment on the potential merger.

Additionally, two separate unnamed sources have been cited by Reuters, denying the rumor that Barclays would merge with another financial institution.

Meanwhile, according to Standard Chartered, it’s currently “focused on executing our strategy, and [does] not comment on this type of speculation.”

- Advertisement -

However, an article in the Financial Times said that a director from each of the financial institutions recently met together for the specific purpose of talking about the advantages a merger would bring to them. 

Barclays has been seeking to better its financial performance, and the meeting with Standard Charter was one of the endeavors towards this aim.

Reuters reported a week ago that one of Barclay’s activist investors, Sherborne, has been putting pressure on Barclays to decrease its investment banking unit, which has not been performing well.

Sherborne, is one of Barclays biggest shareholders, with a five percent stake in the financial institution. Follow us on Social Media

- Advertisement -

Send in your scoops to news@theindependent.sg 

No tags for this post.
- Advertisement -

Woman’s neighbours install a fan outside their flat to extinguish small prayer flame she lit in the corridor

Singapore -- In another incident revealing a lack of religious tolerance, a woman’s neighbours have installed a fan outside their gate in an attempt to extinguish the prayer flame she lights in a tiny urn outside her own flat. In a 30-second-long...

Another ‘Badge Lady’? Maskless woman asks doctor for his ID when he asks her to wear a mask

Singapore -- A woman refusing to wear a mask at a condominium shouted at and abused a doctor who asked her to put one on. In a video circulated on Sunday (June 13) on WhatsApp Messenger, a maskless woman who was walking...

S’porean wakes up to flooded home on multiple occasions thanks to cat leaving tap running

Singapore – A Singaporean man has woken up to find his home flooded twice after his pet cat left the water running. While cats typically dislike water, it appears that the Russian Blues in a particular household in Singapore wish to turn...
Follow us on Social Media

Send in your scoops to news@theindependent.sg 

No tags for this post.
Theindependent