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Emerging market Bank said that he would focus on organic growth has launched an issue of rights ￡ 3 UK earlier this week to protect themselves from Basel III - set new rules governing the global banking capital.

Standard Chartered said: "we were very clear that our rights issue is aimed at supporting growth organic while also giving the group a greater capacity to meet requirements of funds propres.Cela improved is dedicated to the use of product section of the prospectus."

Organic growth remains the heart of our strategy and we proved that we are extremely disciplined about acquisitions. "It is very difficult to see how we can make a major acquisition in the short and medium term."

Old Mutual actions anglo-sud African insurance group, fell 6.9% after his hopes to sell its stake in Nedbank 52pc 138.3 dealt a heavy blow by HSBC. The proposed transaction would have seen the Bank buy to 70pc of Nedbank's first major foray in more market Africa .HSBC sought to buy the old 52pc game mutual as well as an additional 18pc other investors.

HSBC said that he clings South Africa market and expand its activities in the country .the ' company currently has five branches in South Africa, which means that its presence on the continent is relatively low in its established position for a long time in other emerging regions such as Asia and Latin America.

Sources close to the said agreement HSBC has decided to put an end to talks after due diligence on Nedbank - decide an agreement respond not his "strict acquisition criteria.However, they played the suggestions that the move was related to recent to the company, changes after Bank initiates claiming the conservative move had the characteristics of the new Chairman of HSBC Douglas Flint, who replaced Stephen Green earlier this month .the ' trauma leads also to Stuart Gulliver replaces Michael Geoghegan as executive chef.

Christopher Wheeler, a Mediobanca, analysts said Bloomberg: "they take another look at Nedbank Geoghegan has disappeared and think that the price was rather expensive."

"You can no doubt that HSBC is concerned a capital and who will have played a role in this decision."

The news is a major setback for the old mutual, that bank account, insurance and asset prices in more than 30 pays.La company management operations was under pressure to sell parts of his financial empire in recent months and ended August the Elimination of its U.S. life insurance activities

In a statement, the company said: "Old life is assessing its participation in Nedbank alternatives and make further announcements in due time.

Julian Roberts, Director of the company is supposed to be shocked by the decision of HSBC.

He insisted in addition measures would be taken to the structure of the company.

Earlier this year, he said the Group would not seek to make acquisitions and would organically grow its core business of "simplifying the business".

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