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StanChart CEO says has no plans for a rights issue

Reuters

LONDON (Reuters) - Standard Chartered's outgoing Chief Executive Peter Sands said the Asia-focused bank had no plans to launch a rights issue and capital strength will be improved this year by cutting costs and reducing its loan book. "We have no plans for a capital raise," CEO Peter Sands told reporters on a conference call, when asked if it could launch a rights issue. Last week the bank said Sands will leave in June after eight years in charge, to be replaced by former JPMorgan investment bank boss Bill Winters. (Reporting by Steve Slater, editing by Sinead Cruise)