Standard Chartered <STAN.L> is pressing on with its application for a banking licence in Saudi Arabia, its chief financial officer said on Wednesday, despite global outrage over the murder of a journalist in the country’s Turkish embassy.
“We have taken account of recent events, but conversely this is about running a business for the long term and that process will continue,” CFO Andy Halford told reporters.
The bank in October last year said it was talking to regulators about applying for a licence in the kingdom.
Jamal Khashoggi, a Washington Post columnist and a critic of Saudi Arabia‘s de facto ruler Crown Prince Mohammed bin Salman, was killed in the Saudi consulate in Istanbul on Oct. 2.
StanChart’s rival HSBC <HSBA.L> said this week it saw little long-term impact on Saudi Arabia investment from the case.
Asia, Africa and Middle East-focused StanChart warned earlier on Wednesday about the impact on its business from rising trade tensions.