Standard Chartered faces pressure to compensate South Korean customers for $900M in poor-performing Chinese stock index securities.
Standard Chartered faces pressure to compensate thousands of South Korean customers after selling them $900M in complex securities tied to a Chinese stock index that performed poorly. The British lender estimated losses may total several hundred million dollars when they mature in 2024 and beyond. StanChart's strategy in South Korea, once its second-largest market, is under scrutiny as it faces stiff competition and the reputational impact of this situation.
May 20, 2024
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