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An investment in China isn’t just a bet on growth. It’s also an investment in change. The mutual recognition (MR) scheme for Chinese and Hong Kong-domiciled funds will debut soon, adding its opportunities to a menu of cross-border access programmes and drawing particular attention to the Hong Kong-Mainland nexus. New flows of funds, moving through...
Today, Standard Chartered launches its 2013 Sustainability Review, which captures the progress and commitments that we have made in supporting social and economic development across the markets in which we operate. Sustainability is integrated in how we do business, guiding everything we do from the services we provide, to the way we run our bank...
Standard Chartered has today published its quarterly Global Focus. The report highlights that a number of the world’s economies are in a phase of much-needed transition as they move to achieve more balanced and sustainable growth. Transition will bring elevated risks and volatility, as well as higher growth rates. It takes various forms in different...
Following the announcement on 29 November 2013 that Jamie Dundas and Rudy Markham will step down from the Board as independent Non-Executive Directors in 2014, the Board confirms, in line with LR 9.6.12, that the effective date of their resignations will be 1 May 2014. Lars Thunell who joined the Board as an independent Non-Executive...
Liverpool FC and Standard Chartered are today kicking-off a week of activity to support Standard Chartered’s global charitable initiative Seeing is Believing, which aims to tackle avoidable blindness. The highlight of the week will be the match against Tottenham Hotspur FC on Sunday 30 March, where Liverpool FC will replace the Standard Chartered logo on...
Standard Chartered Bank today marked yet another milestone in the endeavour to offer cutting edge banking services to its customers by launching its Islamic banking offering under the brand name of Saadiq. With this launch Kenya becomes the first market for Standard Chartered’s African footprint for Islamic banking. “Saadiq” – which means Truthful in Arabic...
Standard Chartered announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, rose to 1,475 in January, up 8.5% from the previous month driven by the inclusion of New York as our fifth RGI centre, strong deposit growth in Hong Kong and Taiwan, coupled with resilient performance in Dim Sum bonds...
In recognition of its rising RMB payment flows, CNH FX turnover Standard Chartered announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI), or the RGI, rose to 1,475 in January, up 8.5% from the previous month driven by the inclusion of New York as our fifth RGI centre, strong deposit growth in Hong Kong...
Full Year 2013 income and profits lower in challenging market conditions. Significant actions announced in 2013 to deliver future growth and capital accretion. Operating income was down 1 per cent to US$18,671 million (2012: US$18,783 million) in line with pre-close 25 markets delivered more than US$100 million in income; 17 more than US$100 million in profits...
Standard Chartered has appointed Sanjeeb Chaudhuri to the newly created role of Group Head of Brand and Chief Marketing Officer. This appointment is effective 1 April 2014. In his new role, Sanjeeb will oversee all brand and marketing teams across the Group, and take overall responsibility for developing a singular, cohesive brand strategy. This will...
Standard Chartered Bank has closed a multi-million dollar finance lease transaction for two Airbus 320-200 aircraft with Cebu Air, Inc (PSE:CEB), the Philippines’ leading low-cost carrier. The 10-year financing facilities for the aircraft were arranged and funded exclusively by Standard Chartered. The two aircraft were delivered just one month apart, in December 2013 and January...
First transaction after PBoC Circular on RMB cross-border business which allows banks to approve two way cross border sweeps without quota restrictions and PBOC sign off Standard Chartered Bank (China) Limited (“Standard Chartered China”) today announced that it has approved the first non-quota-based RMB denominated two-way cross border sweeping transaction for Baoxin Auto Group Limited...
Standard Chartered has today released an independent study on the social and economic impact of its operations in Africa, looking at the value added to the economy and how it supports trade and employment. Authored by Professor Ethan Kapstein, currently a Visiting Fellow at the Centre for Global Development in Washington DC and Dr René...
Some suggest Nigeria’s economy may emerge as the largest in sub-Saharan Africa – we look at the facts
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, ended 2013 on a high note at 1,377 in December, up 5.9% from the previous month and 84.1% year-on-year, driven by rising deposits and cross-border payments. Expansion of new offshore centres, further policy push and the appreciation of...
This fifth review focused on corporates in China and Hong Kong on their current and planned offshore renminbi (RMB) activity. Key themes in this review Hong Kong companies continue to be active in the use of offshore RMB and are aware of the benefits. At this stage, they see limited future expansion due to concerns over...
Standard Chartered’s Seeing is Believing, a collaboration between the international bank and the International Agency for the Prevention of Blindness (IAPB), has awarded eight innovation grants totalling USD1 million to a series of institutions, including NGOs, an NHS Trust, universities, and a private company in a bid to bring high quality eye care to low-middle...
Standard Chartered today announced the opening of an onshore banking subsidiary in Angola, together with ENSA, a leading Angolan insurance company. The Bank has signed a joint venture with ENSA in which Standard Chartered is the majority shareholder, with 60% of the share capital of the bank, and ENSA with 40%. Deepening our presence in...
Standard Chartered Bank (“Standard Chartered”) and Commonwealth Bank of Australia (“CBA”) have successfully closed the financing of a new Boeing B777-300ER aircraft for Cathay Pacific Airways (“Cathay Pacific”). The finance lease facility was jointly arranged and underwritten by Standard Chartered and CBA. Standard Chartered also acted as the Facility Agent and Security Trustee for the...
Standard Chartered announces a reorganisation to deliver the strategic and financial aspirations outlined at its Investor Day on 11 November 2013 Wholesale Banking and Consumer Banking to be integrated from 1 April 2014 Mike Rees to run these combined businesses and to be appointed Deputy Group Chief Executive, reporting to Peter Sands, Group Chief Executive...
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, reached 1,301 in November, up 6.1% from the previous month and 78.9% year-on-year, thanks to strong growth in deposit and cross-border payment. Rising deposits in Singapore, Hong Kong and Taiwan helped bolstered the RGI, coupled with solid growth...