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StanChart planning to simplify structure to curb costs: Bloomberg



FILE PHOTO: People pass by the logo of Standard Chartered plc at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo

(Reuters) – Standard Chartered Plc (STAN.L) is considering simplifying its structure as it looks to curb costs across its networks from Zambia to Macau, Bloomberg reported on Monday, citing sources.

The London-based bank is looking for ways to free up liquidity and reduce funding expenses within its different legal entities, the report added.

The bank will also outline how it plans to “deliver higher returns” when it reports its full-year results in February, Bloomberg said, citing a statement, and is expected to unveil a strategic plan in the same month.

Standard Chartered did not immediately respond to a request seeking comment.

Reporting by Mekhla Raina in Bengaluru; Editing by Jan Harvey