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Standard Bank CEO: "too early" to tell on further China writedowns
August 14, 2014 / 10:27 AM / 3 years ago

Standard Bank CEO: "too early" to tell on further China writedowns

JOHANNESBURG, Aug 14 (Reuters) - It is “too early” to tell if South Africa’s Standard Bank will need to take further writedowns on its exposure to a suspected metal financing fraud in China, the bank’s co-chief executive said on Thursday.

“When we look at the provision that we face in China, it’s too early for us, we have no information, really. We’re not allowed into the ports like all of the other lenders,” Ben Kruger told Reuters Insider in an interview. (Writing by David Dolan, editing by William Hardy)

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