According to reports
Barclays is eyeing a merger with rival bank Standard Chartered, according to reports.
However, no formal bid has been made yet.
Stanchart said it’s “entirely focused on executing our strategy, and [does] not comment on this type of speculation.”
The FT reported that one director each from the two London-headquartered banks met to discuss the possible benefits of merging. The news comes as Barclays is trying to improve its financial performance following pressure from investors over its under-performing investment bank unit. Barclays and Standard Chartered declined to comment.
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