€7bn wiped from Standard Chartered value

Standard Chartered has seen £6bn (€7.5bn) wiped from its value amid fears it could lose its US banking licence after regulators branded the lender a “rogue institution” over its dealings with the Iranian government.

€7bn wiped from Standard Chartered value
Tue, 07 Aug, 2012 - 18:45

Standard Chartered has seen £6bn (€7.5bn) wiped from its value amid fears it could lose its US banking licence after regulators branded the lender a “rogue institution” over its dealings with the Iranian government.

The 160-year-old bank saw shares plunge 16% after regulators claimed it exposed the US to terrorists and drug kingpins by hiding $250bn (€200bn) of transactions with Tehran.

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