Standard Chartered may sell its Indian asset management business in India, which has more than $3 billion in client assets. "We are at th...

Standard Chartered may sell its Indian asset management business in India, which has more than $3 billion in client assets. "We are at the core a commercial bank. The asset management company, though big, isn't essential to its main business," said Neeraj Swaroop, head of Standard Chartered's business in India, in an interview with Bloomberg. The bank may sell the asset management business outright, outsource the business to a partner, or divest as much as 90 per cent of the unit and retain a strategic stake, said Mr Swaroop. A potential buyer or partner was not named. Standard Chartered is currently the largest foreign bank in India and Pakistan with 81 branches in India alone.