Standard Chartered said to face big commodities hit

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Asia-focused bank Standard Chartered could need $4.4bn in of extra provisions to cover losses from commodities loans, potentially forcing it to raise billions of dollars from investors, analysts said on Monday.

Reuters reports that Credit Suisse analysts said the losses could force Standard Chartered to raise $6.9bn to improve its core capital ratio to 11% by the end of the year.

'We think the needed provisioning could be large enough to require further capital measures, such as further equity raisin, and/or dividend reductions', analyst Carla Antunes-Silva said in a note.

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StanChart faces $4.4 billion commodities hit, may need to raise cash - analysts

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