Standard Chartered has stepped up its commitment to emerging markets with the launch of a one billion euro (about HK$7.43 billion) capital-raising exercise. The cash will bolster the bank's ability to make acquisitions and expand business. Chartered has already identified Taiwan, India and Indonesia as countries where it is keen to expand. The capital-raising brings the group's capital reserves to more than GBP1 billion (about HK$12.26 billion). 'We are excited by the opportunities for investment to develop our unique franchise,' said chief executive Rana Talwar. 'Our capital strength has allowed us to emerge stronger from the turmoil in Asia. We intend to maintain our strength as the economies in the region rebound and we pursue our growth strategy.' There are two elements to the fund raising: a 500 million euro subordinated guaranteed convertible bond and a 500 million euro non-cumulative perpetual preferred security.