Standard Chartered
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Standard Chartered

Standard Chartered
Standard Chartered
Standard Chartered is headquartered in London, but around 90 per cent of its profits come from Africa, Asia and the Middle East as of 2012. Its name is derived from the two banks from which it was formed in a merger in 1969: The Chartered Bank of India, Australia and China, and Standard Bank of British South Africa.
Standard Chartered Asia chief executive Jaspal Bindra says the bank is keen to reward shareholders with dividends. Photo: David Wong

Standard Chartered net profit declines 17pc

Standard Chartered, the British bank which is heavily exposed in emerging markets, posted its first decline in earnings in a decade due to volatile financial markets and tough conditions in South Korea, with analysts warning the bank still faces challenges in 2014.

StanChart poised for slowing growth

Standard Chartered looking to sell Hong Kong lender PrimeCredit

Hard times at StanChart raise fears for rivals

HSBC could report a tough fourth quarter, going by rival Standard Chartered's travails.

HSBC has a more global presence, with Asia-Pacific contributing two-thirds of pre-tax profit in the first nine months. Photo: Bloomberg
HSBC

Controversial investment-linked assurance schemes poised to make a comeback

A controversial class of investment products may soon become widely available again after most banks in Hong Kong stopped selling them when tough restrictions on their sale were introduced this year.

StanChart warning of slow growth rattles investors

Standard Chartered has warned of muted income growth this year due to the poor performance of its South Korean consumer banking business, with an operating loss of up to US$200 million.

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StanChart settles for slower growth

Asia-focused British lender Standard Chartered has come to terms with the prospect of high single-digit income growth rates in the next few years, down from the double-digit rates of the past, due to the global economic slowdown and uncertainties about regulatory requirements on capital and liquidity.

Standard Chartered plans to focus on areas that could offer higher profit and growth. Photo: Dickson Lee

Korea woes weigh down StanChart

Standard Chartered said its income and operating profit recorded low single-digit growth in the first nine months of the year on souring credit quality at its South Korean business and currency depreciation in emerging markets.

Shanghai free-trade zone

Exclusive | Foreign banks shun China's Shanghai free-trade zone amid uncertain rules

Beijing's move to eliminate bureaucratic approval processes to encourage foreign banks to open branches in the Shanghai free-trade zone has met with a lukewarm response.

Shanghai free-trade zone

Exclusive | HSBC and Standard Chartered among first Shanghai free-trade zone banks

HSBC and Standard Chartered are expected to be among the first batch of foreign banks to offer a wide range of banking services in the mainland's first free-trade zone, in Shanghai, with Beijing wanting to open its financial sector wider to foreign investment.

HSBC has done business in China for more than a century, and is often invited to take part in banking innovations there. Photo: Bloomberg

StanChart loans to China set to fall

Standard Chartered expects its loan growth to slow for the rest of the year as fewer mainland companies come to Hong Kong for funds, with the liquidity crunch easing there.

Benjamin Hung Pi-cheng, the Hong Kong chief executive of Standard Chartered. Photo: Jonathan Wong

Standard Chartered scales back double-digit growth goal

Standard Chartered played down the risks to its business of a slowing global economy as it unveiled first-half pre-tax profits that included a painful US$1 billion write-down against its South Korean operations. It admitted that plans for double-digit income growth were unrealistic.

StanChart agrees Qianhai loan deal

Standard Chartered Hong Kong and Shenzhen International, a Hong Kong-listed operator of logistics facilities and toll roads on the mainland, yesterday signed a one-year Qianhai cross-border bilateral loan agreement worth 100 million yuan (HK$125.51 million).

StanChart hurt by S. Korean weakness

A deterioration in asset quality, especially in South Korea, and a 75 per cent jump in the bank levy in Britain helped drag Standard Chartered's performance in the first half of the year below its targets for revenue and income growth.

Standard Chartered said income for the first half was expected to grow in the mid-single digits year-on-year. Photo: AP

StanChart digital branches to expand in bid to boost sales

Standard Chartered plans to roll out more "digital branches" in Hong Kong to boost sales revenue and shorten the time customers queue for services. The digital branches will be equipped with tablet computers which will enable customers to access the internet and online banking accounts when waiting for the services, said Mary Huen Wai-yi, country head of consumer banking in Hong Kong.

Mary Huen says digital bank branches allow more resources to be deployed to revenue-generating procedures. Photo: Felix Wong
HSBC

HSBC, Standard Chartered sell yuan bonds in Singapore

HSBC Holdings and Standard Chartered sold 1.5 billion yuan (HK$1.9 billion) worth of notes in Singapore yesterday in the first dim sum bond issuances since yuan-clearing became available in the city state.

Dominique Strauss-Kahn

Lai See | Strauss-Kahn gives South Sudan some 'special attention'

After some time out of the limelight following his spectacular fall from grace in 2011, former International Monetary Fund chief Dominique Strauss-Kahn has resurfaced in unusual circumstances.

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Short seller Carson Block targets Standard Chartered on loan risks

Block, who has in recent months targeted Singapore commodity trader Olam International, is turning his focus to Standard Chartered after Olam became more responsive to investors and won increased backing from Singapore sovereign wealth fund Temasek.

Carson Block

StanChart's first-quarter margins hit by competition

The results came as a shock to the market, with Standard Chartered's share price in Hong Kong falling 3.53 per cent to close at HK$193.90, after rising as much as 2.4 per cent before the bank's results were announced.

Rafael Hui

Lai See | Standard Chartered Bank chairman eats humble pie

Hang Seng Bank

Further mortgage rate rise 'could cut home prices by 20pc in two years'

Further mortgage rate rise 'could cut home prices by 20pc in two years'
HSBC

Mortgage rate hikes add note of caution to markets

Mortgage rate hikes add note of caution to markets
HSBC

Hong Kong's new homebuyers hit by rise in interest rates

Centaline Property Agency said last night that some owners had immediately slashed their asking prices. A 922 sq ft flat in Taikoo Shing was on offer for HK$13 million, a reduction of 7 per cent. Other owners dropped their prices by up to 10 per cent.

StanChart raises dividends, cuts back on top bonuses

Wen Jiabao

Talking points

Premier Wen Jiabao.
Tencent

Business Digest, March 1, 2013

Yuan deposits in Hong Kong climbed in January to within 0.5 per cent of a record as investors revived bets on the currency's appreciation given an improving outlook for economic growth on the mainland. 

RBS triples its loss, boss keeps bonus
BYD

Business Digest, February 28, 2013

China's gross domestic product will grow at an annualised rate of about 8 per cent in the first quarter of this year, while the consumer price index will rise an annualised 2.6 per cent, the China Securities News said, quoting the State Information Centre, a leading government think tank. 

Lai See | A matter of some interest at Standard Chartered

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