Standard Chartered Share Discussion Threads

[togglebrush] 26/4/2023 07:07

Bill Winters, Group Chief Executive, said:

"We have delivered another strong set of results in the first quarter of 2023,
with income up 13 per cent year-on-year and underlying profit before tax up 25
per cent. Business performance continues to improve across our markets and
products and has been achieved in what continues to be an uncertain
environment. We remain highly liquid and strongly capitalised with a CET1
ratio towards the top of our target range. We remain optimistic about our
continued strong performance and now expect 2023 income to grow around 10 per
cent, the top end of our range, and remain confident in the delivery of all of
our financial targets, including our return on tangible equity targets."

Snippets of long RNS

Wealth Management broadly flat at ccy, with a rebound in Hong Kong and China
supported by positive leading indicators from China reopening

• Expenses increased 5% YoY to $2.7bn, or up 10% at ccy

- Positive 3% income-to-cost jaws at ccy

- Increased expenses from supporting business initiatives and inflation

• Credit impairment charge of $26m, down $172m YoY

- Net release of $23m from earlier downgraded sovereign exposures and an $2m
net release on China CRE portfolio

- Remaining management overlay: COVID-19 of $9m and China CRE of $167m

- High-risk assets broadly flat in the quarter

• Underlying profit before tax of $1.7bn, up 25% at ccy; Statutory profit
before tax up 25% at ccy to $1.8bn

of interest buried deep in the report FWIW The Group is accruing a provisional interim 2023 ordinary share dividend over the first half of 2023, which is calculated formulaically at one third of the ordinary dividend paid in 2022 or 6 cents a share.

[bountyhunter] 11/4/2023 14:46

A new UK Banks comparison thread with colour coded links alongside the prices at the top to all the main threads (including this one):



Despite the recent drop STAN is still leading the pack over a one year timeframe.

[qantas] 17/2/2023 16:47

Fri 17 Feb 2023

(Sharecast News) - Analysts at Berenberg hiked their target price on consumer bank Standard Chartered from 750.0p to 1,000.0p on Friday, citing "increasingly evident" standalone strength.
Berenberg said Standard Chartered's shares had risen 22% year-to-date, partly reflecting speculation that the bank could be acquired.

"While a potential takeover may provide a backstop for the shares, our attraction to Standard Chartered is predicated on the underappreciated strength of its unique global business," said Berenberg. The bank's recent Q4 2022 results help to demonstrate why."

The German bank highlighted that Standard Chartered's outlook for growth, efficiency and returns exceeded its own and consensus expectations.

"Moreover, the strength of the bank's balance sheet can support sustained attractive capital returns, of circa 8.7% per year, in our view," added Berenberg, which stood by its 'buy' rating on the stock.

"Trading on 0.67x TBV versus our FY 2024E RoTE of 10.7% (below company guidance), we believe these strengths remain underappreciated."

Please do your own research as always.

[togglebrush] 16/2/2023 11:40

Full Year results look very impressive, huge profit hike and dividend up from 9 cents to 14 cents. Well worth a read

[qantas] 15/2/2023 08:44

What now for Standard Chartered, and why is the bank still a takeover target?



Please do your own research as always.

[richardbroughton] 10/2/2023 14:36

Ah, if you are into time travel perhaps you wouldn't mind telling where STAN will be in 12 months? Thanks, most grateful, even 6 months would be OK?

[qantas] 10/2/2023 13:24

Dear Richard

My reply is as of now, time travel sometimes takes a long time.

[richardbroughton] 10/2/2023 10:43

You are aware that you are responding to a comment 14 years old, just after the meltdown in 2008!

[xxxxxy] 10/2/2023 10:07

Vultures are circling.From the Club of Corrupt Nations.Cannot be allowed.

[richardbroughton] 10/2/2023 10:04

A quick look at bal. sheet indicates good value for a buyer at £10 even taking intangibles out.

[qantas] 10/2/2023 09:16

I would.not agree as Asia, is very mixed up with China at the moment.



My preferred bank is Barclays with a PE if five.

Please do your own research as always

[diesel] 10/2/2023 08:35

Interesting that it hasn’t returned to pre rumour levels, this has certainly got some focus on valuation and the door has been left open should they receive an offer from someone else!

[babbler] 10/2/2023 07:35

And back down today it goes...

[dh1706] 09/2/2023 14:44

I think the six month rule lapses in the event of another bid or the target agreeing to it.

[richardbroughton] 09/2/2023 14:25

Dunno but other interest/offers may materialise if FAB have to wait which will help the share price hang on to gains.

[liam1om] 09/2/2023 12:27

Anyone know when the cooling off period ends? I thought it was usually 6 months, which means no bid before July?

[qantas] 09/2/2023 12:19

View in browser
Bloomberg
Barclays PE 5.13 Standard chartered PE 14.77

In play
First Abu Dhabi Bank is pressing ahead with a potential offer for Standard Chartered, keeping its ambitions to become a global financial powerhouse alive.

Under the code name Silver-Foxtrot, officials at the bank are working under the radar on a possible bid once a cooling-off period required by UK takeover rules elapses, according to people familiar with the matter.

Please do your own research as always

[boystown] 09/2/2023 12:07

Standard Chartered soars on report of renewed interest from First Abu Dhabi Bank

Shares in Asian-focused bank Standard Chartered PLC (LSE:STAN) topped the FTSE 100 risers after a report on Bloomberg that First Abu Dhabi Bank (FAB) is pressing ahead with a potential offer for the lender.

According to Bloomberg, FAB, which is worth about twice as much as Standard Chartered, is exploring an all-cash bid of in the range of US$30bn to US$35bn, citing sources.

Bloomberg reported: “Under the code name Silver-Foxtrot, officials at the Abu Dhabi bank are working under the radar on a possible bid once a cooling off period required by UK takeover rules elapses, according to people familiar with the matter.

“FAB, as the bank is known, recently completed due diligence on the London-based lender, the people said, asking not to be identified because the matter is private.

“Any deal would be dependent on market conditions and the performance of Standard Chartered’s share price," they said.

In January, shares in the FTSE 100-listed bank soared, and then fell in a matter of minutes, as FAB said it had been considering a move for the bank but had decided not to proceed at that time.

Shares in Standard Chartered rose 9.9% in London on Thursday to 757.20p.

Victoria Scholar, head of investment, interactive investor said the weakness of the pound has made the UK attractive to investors.

"International businesses and investors have been looking towards the UK market over the last year as an attractive geography in the search for potential takeover targets, given the depreciation of the pound since the May 2021 peak and the corresponding increased attractiveness of sterling-priced valuations."

"The recent revival of the pound could spur investors to move quickly as valuations become richer again," she suggested.

[pdriccio] 09/2/2023 11:41

(Alliance News) - First Abu Dhabi Bank PJSC is pressing ahead with a potential USD35 billion offer for Standard Chartered PLC, according to Bloomberg reports on Thursday.Works out at 10 sterling a share, but the market doesn't believe it.

[dodge meister] 09/2/2023 08:23

Bloomberg identified a potential takeover

[qantas] 06/1/2023 09:58

More good news.



FTSE 100: HSBC and other bank shares to move after StanChart reports

Please do your own research as always.