StanChart CEO says no plans to raise capital, cut payouts

LONDON, March 5 (Reuters) - Standard Chartered (HKSE: 2888.HK - news) 's boss said he had no plans to raise capital from shareholders or cut the dividend, saying his bank had strong capital "on any measure" despite a drop in profits and a challenging outlook.

Asked whether he had any plans to raise capital or cut its dividend, Chief Executive Peter Sands said: "None"

"At the level we're at, we are already significantly and materially ahead of the target ratios the PRA (Prudential (Frankfurt: PRU.F - news) Regulation Authority) has guided us to achieve by 2019," he told Reuters in an interview.

He was speaking after Standard Chartered reported its first drop in annual profits for a decade.