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Standard Chartered To Exit Onshore Operations In Seven Markets In Africa & Middle East Region

Standard Chartered PLC (SCBFF.PK,STAC.L,STAN.L) said the Group now plans to exit onshore operations in seven markets in Africa and Middle East region, and in a further two markets focus solely on its Corporate, Commercial and Institutional Banking business. The seven markets are Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe. In Tanzania and Cote d'Ivoire, the Consumer, Private and Business Banking businesses will be exited.

Standard Chartered CEO, Bill Winters, said: "As we set out earlier in the year, we are sharpening our focus on the most significant opportunities for growth while also simplifying our business."

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