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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...
IFC, a member of the World Bank Group, and Standard Chartered Bank have signed a landmark risk sharing facility, which will increase the amount of Renminbi (RMB) denominated trade finance available to Chinese banks, as well as corporates and businesses in China and across Asia and other emerging markets involved in imports and exports to...
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, rose 2.4% in October to 1,220 from September, translating into a 69.4% year-on-year growth. The latest RGI reading confirms that offshore Renminbi market is regaining momentum following a soft patch in late second-quarter and early third-quarter, with the...
Standard Chartered PLC (along with its subsidiaries the “Group”) will be holding discussions with analysts and investors ahead of its close period for the full year ending 31 December 2013. This statement details the information that will be covered in those discussions. Peter Sands, Group Chief Executive, commented, “In a challenging year, Standard Chartered has...
Standard Chartered has today published its annual Global Focus report. Entitled “Rising East, emerging West’’, the report forecasts the world economy is likely to accelerate to a 3.5% growth in 2014, up from 2.7% this year, as a pick-up in economic activity in the US and Europe, following years of recession and sub-par growth, helps...
Standard Chartered Bank (“Standard Chartered”) and Agricultural Bank of China Limited (“ABC”) signed a Memorandum of Understanding (MOU) today that cements a partnership to provide Renminbi (RMB) clearing services in the UK. Through this agreement, financial institutions and corporates will be able to work with Standard Chartered UK and ABC UK to execute RMB transactions,...
Standard Chartered Bank has appointed Caroline Eber-Ittel as Country Chief Executive Officer and Head of Wholesale Banking in France. Based in Paris, Caroline is responsible for deepening the bank’s client relationships with Corporates and Financial Institutions. In her role, she will also oversee all relevant product areas including Financial Markets and Transaction Banking and reports...
This fourth Offshore Renminbi Review surveyed senior treasury professionals from Asia, Europe and the United States on their current and planned offshore renminbi (RMB) activity. Key themes in this review More companies are using offshore RMB today, and this trend is set to continue More companies are using more RMB products 40% of companies see RMB...
The Reds kick-off a week-long campaign today to raise awareness for World AIDS Day 2013 (Sunday 1 December) and Living with HIV, Standard Chartered’s global HIV and AIDS education programme. Thirty-five million people worldwide are currently living with HIV, including 100,000 in the UK. To highlight this global issue the Club has released footage of...
The Board of Directors (the “Board”) of Standard Chartered PLC (the “Company”) today announces the following changes to the Board. Naguib Kheraj (aged 49) is appointed as an independent Non-Executive Director and a member of the Audit Committee and Board Risk Committee from 1 January 2014. Naguib brings extensive international banking, finance and business leadership experience...
Today we held an Analyst and Investor Day in London, where we shared our perspective on our markets and businesses, and explained how we are responding to the current environment. The key themes that we covered were: The long term opportunity for our business is compelling We are confident in our markets and our competitive...
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, re-accelerated in September, rising 3% month-on-month to 1,183, thanks to strong Renminbi deposit growth in Hong Kong and Taiwan. Offshore Renminbi deposit growth accounted for 60% of the index’s gains in September. Deposits in Hong Kong rose further...
See our full infographic > (PDF) Three years ago, our super-cycle report said that the world is in the midst of a third economic “super-cycle”, comparable with the periods 1870-1913 and 1946-73, which also saw unusually rapid world economic development. Today, we argue that the global economic super-cycle remains largely intact and we forecast an average...
With the RMB ascending in popularity, AFP has released a new guide underwritten by Standard Chartered to help corporate treasurers and finance professionals leverage the new RMB offerings. Chinese authorities recently took two important steps toward further liberalising trade in RMB, making it possible to further integrate the RMB into global corporate treasuries. First, the...
Standard Chartered today releases its Interim Management Statement (IMS) for the third quarter of 2013. Peter Sands, Group Chief Executive, commented, “In the third quarter, we delivered a resilient performance despite an uncertain macro environment, with continued strong levels of client activity and good volumes across many of our markets. Our diversity by market, product...