The Asia-focussed lender, like rival HSBC, is shaking up its business to focus more on affluent individual customers and international companies that are likely to yield more in fees for the bank.

It has for some time been pivoting away from its once globe-spanning empire to focus on core businesses as it bets on strong economic growth in Asian markets and aims to rein in expenses.

Standard Chartered said the potential exits in Africa would be the first in a small number of business divestitures in accordance with its new target of doubling investment in its wealth unit while paring back retail banking.

--Reuters--