Word: bindra
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Dates: during 2000-2009
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...renegotiating loans, while other marginal customers were denied further credit. To strengthen the bank's financial position even more, Sands raised $2.7 billion in capital through a December share sale, raising the bank's key "tier one" capital ratio to 10.1%. (An 8% ratio is considered healthy.) Jaspal Singh Bindra, StanChart's Hong Kong - based CEO for Asia, says that previous downturns like the 1997 Asian crisis made management especially wary of financial-system turmoil. "We learned that when there is a market problem, it spreads from a problem to a crisis very quickly," Bindra says...
...managed loan portfolio can withstand the recession better than some expect. Though they did see a spurt of losses from bad loans while the financial crisis was roaring, managers say the situation improved in early 2009. "There is no direct correlation with macro numbers and the individual bank," says Bindra...