March 17 (Bloomberg) -- Standard Chartered Plc Chief Executive Officer Peter Sands said the bank had a “strong” first two months of the year, joining Barclays Plc and Citigroup Inc. in reassuring investors that the industry is recovering.
Sands, speaking in Hong Kong today, also said he has no plans to cut jobs and that the bank will focus on “organic” growth, though it may consider acquisitions in Asia, Africa and the Middle East. Asian stocks and U.S. futures advanced after Sands’s remarks.
“The message from the CEO is that the situation has stabilized,” said Lee Yuk-Kei, a Hong Kong-based analyst at Core Pacific-Yamaichi International Ltd. “This may dismiss some concern that asset quality in emerging markets will deteriorate sharply.”
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