By Adam Clark

Standard Chartered PLC (STAN.LN) said Tuesday that it is looking at setting up a new office for about 500 staff in Eastern Europe.

The emerging markets-focused bank said the operation will support all of its European locations. Possible sites for the new office include Warsaw, Krakow, Budapest and Prague.

Standard Chartered said it will make a final decision about the location by the first quarter of 2018.

Shares are up 18.40 pence, or 2.5%, at 745.60 pence at 1427 GMT.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

December 05, 2017 10:17 ET (15:17 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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