Standard Chartered considers Taiwan, SKorea for futher acquisitions

HONG KONG (AFX-ASIA) - Standard Chartered Bank chairman Patrick Gillam said the bank remains enthusiastic about making a bid for a Taiwan bank if it becomes feasible, according to the South China Morning Post.	    Separately, the Hong Kong Economic Journal quoted bank group chief executive Rana Talwar as saying the bank is also targeting banks in South Korea for future acquisitions.	    The South China Morning Post cited Gillam as saying the focus on organic growth did not rule out further acquisitions.	    "What we are doing this year and next is bedding those acquisitions down and growing our business," Gillam said.	    "In 2000 we managed 13.5 pct total increase in revenues and taking out the effect of the acquisitions this is 11.5 pct," Gillam said.	    Gillam said the acquisitions of Grindlays in India and Chase's retail business in Hong Kong meant combined card revenues outstripped mortgages as the biggest sources of revenue.	    "Chase was just a remarkable opportunity because it took us in one move to being the largest single issuer of credit cards in Hong Kong," Gillam said.	    "Those two purchases have transformed the bank," he added.	    Rana said in the Hong Kong Economic Journal report the bank will gradually transfer its back office tasks to Malaysia and India, which will become the bank's two bases for global strategic back office operations.	    The report said the transfer is expected to affect less than 10 pct of 5,100 employees in Hong Kong. 

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