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 net profit declines 17pc

Standard Chartered Asia chief executive Jaspal Bindra says the bank is keen to reward shareholders with dividends. Photo: David Wong

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.

Thursday, 6 March, 2014, 12:52pm

StanChart poised for slowing growth

Standard Chartered made a pre-tax profit of US$3.3 billion in the first half of last year, down 15.3 per cent from 2012.

Standard Chartered's decade of rising earnings is expected to come to an end when the emerging-markets-focused British bank delivers its results for last year on Wednesday.

3 Mar 2014 - 7:06am

Standard Chartered looking to sell Hong Kong lender PrimeCredit

Standard Chartered appears to be divesting its consumer finance businesses in Hong Kong and South Korea. Photo: Dickson Lee

Standard Chartered is seeking buyers for Hong Kong consumer finance business PrimeCredit, according to people familiar with the matter, as the Asia-focused bank sells peripheral businesses.

20 Feb 2014 - 12:44am

Hard times at StanChart raise fears for rivals

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

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

10 Dec 2013 - 2:47pm

Controversial investment-linked assurance schemes poised to make a comeback

HSBC both creates and distributes ILAS products. Photo: Nora Tam

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.

6 Dec 2013 - 3:21am

StanChart warning of slow growth rattles investors

Management at Standard Chartered is keeping up a positive outlook, but some analysts have doubts the Asia-focused lender can get growth back on track. Photo: AP

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.

5 Dec 2013 - 6:00am

StanChart settles for slower growth

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

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.

12 Nov 2013 - 3:30am

Korea woes weigh down StanChart

Richard Meddings

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.

30 Oct 2013 - 1:56am

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

The mainland banking regulator sent questionnaires to foreign banks asking them why they were hesitant to open branches in the Shanghai free-trade zone. Photo: EPA

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.

9 Oct 2013 - 11:28am 4 comments

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

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

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.

10 Sep 2013 - 7:53am

StanChart loans to China set to fall

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

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.

9 Aug 2013 - 2:47am

Standard Chartered scales back double-digit growth goal

Standard Chartered's top executives (from left) Benjamin Hung, John Peace, Jaspal Bindra and Julian Fong yesterday. Photo: Dickson Lee

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.

7 Aug 2013 - 5:04am

StanChart agrees Qianhai loan deal

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).

12 Jul 2013 - 4:01am

StanChart hurt by S. Korean weakness

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

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.

27 Jun 2013 - 4:26am

StanChart digital branches to expand in bid to boost sales

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

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.

17 Jun 2013 - 5:56am