By Joe Hoppe

Standard Chartered PLC said Wednesday that it was exploring alternatives for the future ownership of its global aircraft leasing and financing operation.

The London-based lender said that the aviation fleet represents around 2% of total group income and around 1% of group risk weighted assets. In 2021, Standard had reported a total operating income of $14.71 billion.

"We believe that a new owner can drive the next phase of growth whilst we continue to focus on our commitment to improve shareholder returns and delivering on our 2024 targets," said Simon Cooper, chief executive of corporate, commercial and institutional banking, and Europe and Americas.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

January 11, 2023 03:11 ET (08:11 GMT)

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