Standard Chartered has said that its continues to assess whether to keep its headquarters in London or move to Asia as the Asia-focused lender expects the bank levy to rise yet further.

StanChart chairman John Peace told investors at the group’s annual general meeting in London that, "We continue to keep our UK domicile under review.

"Although we have no current plans to leave our domicile, we are listening carefully to our shareholders views on this issue."

He added that the decision comes "in light of the latest increase in the bank levy, the likelihood of further increases and the impact on the group’s costs."

Some shareholders are reportedly pushing the lender to switch its base to Hong Kong or Singapore after chancellor George Osborne increased the bank levy in the March 2015 budget.

The bank has also highlighted its concern about government policy to ring fence banks’ retail operations to protect them from their investment divisions.

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