The press reports of a possible bid had at one point sent Standard Chartered's share prices up by 20 per cent before later comments from the lender pared the gains yesterday.

First Abu Dhabi Bank, the United Arab Emirates-based lender, is no longer trying to buy UK-listed Standard Chartered, having once considered making a bid.

“First Abu Dhabi Bank confirms that it had previously been at the very early stages of evaluating a possible offer for Standard Chartered, but as of the date of this announcement, is no longer doing so,” it said in a statement emailed to WealthBriefing when asked about the matter. 

Bloomberg had earlier reported that FAB had been considering making an offer for the group to build an emerging markets bank. The report boosted Standard Chartered’s share price up by as much as 20 per cent at one point, according to Reuters. Shares later retreated after FAB said it was not considering a deal.

The Abu Dhabi lender said it had been in "the very early stages of evaluating a possible offer" for Standard Chartered, reports said. Standard Chartered declined to comment yesterday, reports added.