Standard Chartered says negotiations are progressing about the sale of its online banking unit formerly known as 20Twenty, but refuses to give more details.
An e-mail sent to the UK-owned bank's online customers last night says: "Regarding our online banking services (4-in-One Account/20one account/Juice Card), we are pleased to advise that negotiations have progressed well with a reputable and like-minded financial services provider, who we believe will meet your banking requirements."
The e-mail goes on to say the process of selling the unit should be concluded early next year, after negotiation and once regulatory approval has been secured.
Standard Chartered head of corporate affairs Lauren Callie refuses to give more details, but says the estimated 40 000 clients will be kept updated on progress.
Callie says some clients have expressed concern about the change in ownership.
"Obviously they are concerned, but we will do our best to do what is in their interest."
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