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Standard Chartered has established a new Corporate Agency & Trust business within its Transaction Banking division by bringing together its existing services to provide a comprehensive range of agency, trust, escrow and account bank services for its clients. Leveraging Standard Chartered’s strong global network and deep local expertise across its footprint of Asia, Africa and...
Following on from its disclosure of 6th August 2014, Standard Chartered (“the Group”) announces it has reached a final settlement with the New York State Department of Financial Services (“DFS”) regarding deficiencies in the anti-money laundering transaction surveillance system at its New York branch. The system, which is separate from the sanctions screening process, is...
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, reached 1,888 in June, up 0.3% from the previous month and 75.8% year-on-year. Growth was the slowest in 20 months, reflecting lingering effects of the Renminbi sell-off and China slowdown from first-quarter 2014. Dim Sum bonds were the...
We’re taking action on multiple fronts as we reshape our business to maximise future growth opportunities. Operating income was down 5 per cent to $9,269 million from H1 2013 but up 4 per cent from $8,920 million in H2 2013 Profit before tax of $3,268 million was down 20 per cent from $4,088 million in...
It has been a challenging first half for us, and for the industry as a whole. But we’re taking long-term action, that will get us back to delivering sustainable, profitable growth. Find out more from our Chief Executive, Peter Sands.
Standard Chartered has appointed Henrik Raber as the Bank’s Head of Capital Markets. He will report to Mark Dowie, Acting Group Head of Financial Markets, and continues to be based in Singapore. This appointment will be effective from 16 August 2014. Henrik has a strong track record and experience in the capital markets business. He...
Standard Chartered is more than doubling its commitment to ‘Power Africa’ by increasing its pledge from USD2 billion to USD5 billion, after reaching its initial commitment in twelve months. On President Obama’s launch of Power Africa in July 2013, Standard Chartered initially committed USD2 billion. With its extended commitment, the Bank remains the largest private sector contributor...
In a recent study launched by Standard Chartered Private Bank (“the Private Bank”) in partnership with Campden Wealth Research, the Private Bank found that High Net Worth (HNW) business owners in Asia, Africa and the Middle East are highly focused on growing their businesses, and that personal wealth ambitions come second. The research has also revealed...
One of the first countries in Asia where Straight2Bank Wallet is available Standard Chartered Bank Philippines announced its partnership with G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Globe Telecom, to launch Straight2Bank Wallet in the Philippines, making it one of the first countries in Asia where this service is available. The service will enable corporate...
A new special report from Standard Chartered Global Research argues that although inequality is rising in many countries, the picture is mixed. We find that income inequality likely has increased within most countries though changes in household composition and tax rules probably exaggerate the extent in developed markets (DMs) and redistribution via taxes and benefits...
Standard Chartered has appointed Michael Vrontamitis as Head of Trade, Product Management with immediate effect. In this role, Michael will be responsible for delivering the Bank’s Trade Finance capabilities in Documentary Trade, Receivables Services and Supply Chain Finance which form an integral part of the Bank’s working capital solutions offered to its clients. As Head...
We remain bullish on Europe, US and Asian equities and expect them to outperform bonds over the next year
Standard Chartered PLC along with its subsidiaries, (the “Group”) will be holding discussions with analysts and investors ahead of its close period for the half year ending 30 June 2014. This statement details the information that will be covered in those discussions. Peter Sands, Group Chief Executive, commented, “This has been a disappointing first half, with...
Standard Chartered Bank (China) Limited (“Standard Chartered China”) today launched its credit card business in China. Targeting mid- and high-end customers, Standard Chartered’s newly launched credit cards combine international and local features. Leveraging its global network strengths, the Bank has integrated resources and platforms in mainland China, Hong Kong and Taiwan, in order to provide...
Standard Chartered Bank (China) Limited (“Standard Chartered China”) today announced that the Bank has received approval from the People’s Bank of China (PBoC) to be one of the first market-makers for direct trading between the RMB and the Great Britain Pound (GBP) on the interbank foreign exchange market. The Bank clinched a direct RMB/GBP trade...
Standard Chartered is launching two pioneering indicators to help shed light on the business, investment and economic outlook for select African markets. The Bank will publish a Business Sentiment Indicator for Nigeria, Ghana and Kenya and a Consumer Price Tracker for Nigeria and Ghana, partnering with international research organisations, MNI Indicators and Premise Data Corporation....
Standard Chartered Bank (China) Limited (“Standard Chartered China”) today announced that the Bank has received approval from the People’s Bank of China (PBoC) to be one of the first market-makers for direct trading between the RMB and the Great Britain Pound (GBP) on the interbank foreign exchange market. The Bank clinched a direct RMB/GBP trade...
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, reached 1,807 in April, up 4.1% from the previous month and 91.8% year-on-year. Uptrend appears to remain intact, albeit at a slightly slower pace. Cross-border Renminbi payments and offshore Renminbi (CNH) FX turnover – the two biggest RGI...
Emerging market consumers are confident about economic growth, highly optimistic about their personal prosperity, and have clear aspirations for spending their newly created wealth, finds a new independent study commissioned by Standard Chartered. Download the study (PDF) The study of 5,000 affluent and emerging affluent consumers across five of Standard Chartered’s key markets – Indonesia,...
The spending habits of emerging-market consumers are changing, but to what? View our infographic to find out
The Board of Directors (the “Board”) of Standard Chartered PLC (the “Company”) today announce the appointment of Andrew Nigel Halford (“Andy”), age 55, to the Board as Group Finance Director and Group Executive Director. In line with the Board’s announcement on 9 January 2014, Richard Meddings will step down from the Board with effect from 30...