(Adds Standard Chartered statement)
ZURICH May 26 Standard Chartered has
not reached a final decision on the future of its Swiss private
bank, it said on Monday, denying a media report that it is
poised to close the Geneva business.
The Asia-focused bank had said in February that it was
looking to sell the Swiss private bank as part of a plan to shed
several businesses as it sharpens its focus on Asia, Africa and
the Middle East.
"As previously announced, Standard Chartered is looking at
options for its private banking business in Geneva," a bank
spokesman said in an emailed statement.
"It is too early to say what the outcome of that process
will be. However, I can confirm that the bank will retain staff
and operations in Switzerland."
Broadcaster Radio Television Suisse (RTS) said on its
website on Monday that Standard Chartered would close the
private bank. It did not cite its sources. RTS said the roughly
40 employees affected would be given the option of moving to
another part of the bank.
(Reporting by Joshua Franklin; Editing by David Goodman)