LONDON, June 26 Standard Chartered' s
total commodity-related exposure around China's Qingdao port is
about $250 million, Chief Executive Peter Sands said on
"That is across multiple clients, multiple locations,
multiple types of facilities, not all of which will be
affected," Sands said on a conference call.
Qingdao port, the world's seventh busiest, has been at the
centre of an investigation looking at whether a private metals
trading firm issued multiple warehouse receipts so that the same
metal cargo could be used multiple times to obtain financing.
"We have taken a preliminary view of the potential impact in
our guidance for the outlook in the first half, and we don't see
it as material at this stage," Sands said.
A spokesman said the bank was reviewing its exposure to
commodity financing, but that it remained committed to the
"We are not pulling back from providing commodity (metals)
financing nor are we pulling back from China, which is a key
market for the bank," the spokesman said.
(Reporting by Steve Slater, writing by Susan Thomas; editing by