Banking and financial services. Standard Chartered employs 38,000 people in 950 locations in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. Standard Chartered is one of the worlds most international banks, with employees representing 80 nationalities. It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance.

Red = 25 day moving average. Green = 200 day moving average.

StanChart sees first-half profit growth slowing to under 10 percent

HONG KONG | Wed Jun 27, 2012 5:34am BST
(Reuters) - Standard Chartered said on Wednesday it expects pretax profit in the first half of this year to grow by less than 10 percent, slowing from previous years and hit by an appreciating U.S. dollar.

Pretax profit in the January-June is also expected to slow to below 10 percent, the bank said in a filing to the Hong Kong bourse, adding that headcount levels at the end of May were flat from the end of 2011.

The Asia-focused bank has so far weathered the downturn relatively well compared with its rivals, having reported a ninth straight year of record earnings in 2011 on the back of buoyant growth in emerging markets.

Pre-close Trading Update/a>.

Interim Results


Reported results

· Profit before taxation of $3,948 million, up 9 per cent from $3,636 million in H1 2011 (H2 2011: $3,139 million)

· Profit attributable to ordinary shareholders1 of $2,806 million, up 12 per cent from $2,516 million in H1 2011 (H2 2011: $2,232 million)

· Operating income of $9,511 million, up 9 per cent from $8,764 million in H1 2011 (H2 2011: $8,873 million)

· Loans and advances to customers up 4 per cent to $279 billion from $269 billion in H2 2011 and customer deposits up 2 per cent to $360 billion from $352 billion in H2 2011

Performance metrics2

· Interim dividend per share increased 10 per cent to 27.23 cents per share

· Normalised earnings per share up 11 per cent at 116.6 cents from 105.2 cents in H1 2011 (H2 2011: 92.8 cents)

· Normalised return on ordinary shareholders' equity of 13.8 per cent (H1 2011: 13.0 per cent, H2 2011: 11.3 per cent)
Capital and liquidity metrics

· Tangible net asset value per share increased 4 per cent to 1,413.7 cents (H1 2011: 1,354.6 cents, H2 2011: 1,355.6 cents)

· Core Tier 1 capital ratio at 11.6 per cent (H1 2011: 11.9 per cent, H2 2011: 11.8 per cent)

· Total capital ratio at 16.9 per cent (H1 2011: 17.9 per cent, H2 2011: 17.6 per cent)

· Advances-to-deposits ratio of 77.6 per cent (H1 2011: 78.1 per cent, H2 2011: 76.4 per cent)

· Liquid asset ratio of 27.9 per cent (H1 2011: 26.5 per cent, H2 2011: 27.5 per cent)

Significant highlights

· Record first half profit for the tenth successive year with consistent strategy delivering consistent performance.

· Strong broad-based and diverse performance spread across products and geographies.

· A highly liquid and a well diversified balance sheet with continued momentum and limited exposure to problem asset classes.

· The Group continues to be well capitalised to meet evolving regulatory requirements whilst leveraging the growth opportunities in our markets.

· Overall strength of the franchise and balance sheet acknowledged by virtue of being the only major international bank to be upgraded by all three ratings agencies since the onset of the financial crisis.

Banks have had a torrid time of it this year and, for that matter, the previous three or four years as well, but emerging markets focused operator Standard Chartered has emerged from the 'baker-bashing' era largely unscathed.

Just over a month ago the bank indicated that it had made a strong start to the year and that it was on course to "deliver a good performance in the first half of 2012".

The strength of the US dollar - the bank's reporting currency - might put a bit of a dampener on the figures, especially the contribution from the bank's Indian operations.

Double digit income growth is expected in several markets including China, Indonesia, Malaysia, Africa, and the Americas, UK and Europe region, and maybe Hong Kong.

Ooops

StanChart discussing sanctions compliance with U.S.

LONDON | Mon Aug 6, 2012 5:32pm BST

(Reuters) - Standard Chartered said it continues to discuss its historical compliance with U.S. sanctions with authorities, after New York's banking regulator said it conducted more than $250 billion (160 billion pounds) of transactions with Iran-related entities.

Standard Chartered bank 'in $250bn scheme with Iran'

Standard Chartered bank illegally "schemed" with Iran to launder as much as $250bn (£161bn) for nearly a decade, a US regulator says.

The New York State Department of Financial Services said that the bank hid 60,000 secret transactions for "Iranian financial institutions" that were subject to US economic sanctions.

It labelled UK-based Standard Chartered a "rogue institution".

The bank has been threatened with having its US banking licence revoked.

And to think that I once considered this to be one of the safer Banks.

This morning's reuters.

New York may pull Standard Chartered licence, says "rogue" bank hid $250 billion in Iran deals

ue Aug 7, 2012 5:33am BST

(Please be advised that paragraph 5 contains reference to language that some readers may find offensive)

By Jonathan Stempel and Carrick Mollenkamp

(Reuters) - New York's top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a "rogue institution" that hid $250 billion (160.28 billion pounds) in transactions tied to Iran, in violation of U.S. law.


From the BBC

Standard Chartered shares dip on laundering allegations

Shares of Standard Chartered bank have tumbled in Hong Kong despite the bank denying allegations that it illegally "schemed" with Iran to launder money.

Its shares fell as much as 7.5% to HK$174 in early trade.

Standard Chartered Statement

Standard Chartered has received the attached order from one of its regulators, the New York State Department of Financial Services. The Group had not received any prior notice of this order.

As reported previously, the Group is conducting a review of its historical US sanctions compliance and is discussing that review with U.S. enforcement agencies and regulators. The Group cannot predict when this review and these discussions will be completed or what the outcome will be.

To view the associated document please click on the link below: -

http://www.rns-pdf.londonstockexchange.com/rns/4285J_-2012-8-6.pdf

Ouch! -13.8%

Nomura has downgraded its rating for Standard Chartered (StanChart) from 'buy' to 'neutral' on the back of the allegations of dealings with Iran by the emerging markets lender.

Following the bank's, StanChart was Nomura's preferred stock in the sub-sector and on the basis of fundamental equity analysis, that would still remain the case, the broker said on Tuesday morning.

"However, in the face of allegations by the New York State Dept. of Financial Services that Standard Chartered Bank (SCB, US subsidiary of Standard Chartered plc) engaged in unauthorised Iranian transactions, we see material headline risk and downgrade the stock to 'neutral'."

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Only downgraded to Neutral? Wonder what they have to do for a Sell rating then -):

risky buy? market cap down£10billion+!

Oochh...

SP recovering...... a storm in a teacup?

hali - you know how litigious the amis are, and the lawyers will just the love the chance of an action against a big corporate client .... that said, from the little i have heard, the senior management knew full well what they (the bank) was up to, and colluded to try to hide it

cynic we are not concerned about the unproven allegations more interested in making "a bob or two" on the rebound.

cynic made a nice day trade profit... isn't that the name of the game?

And Oooops again :-

Exclusive - U.S. regulators irate at New York action against Standard Chartered

NEW YORK/LONDON | Wed Aug 8, 2012 5:34am BST

(Reuters) - The U.S. Treasury Department and Federal Reserve were blindsided and angered by New York's banking regulator's decision to launch an explosive attack on Standard Chartered Plc over $250 billion (160.1 billion pounds) in alleged money laundering transactions tied to Iran, sources familiar with the situation said.

By going it alone through the order he issued on Monday, Benjamin Lawsky, head of the recently created New York State Department of Financial Services, also complicates talks between the Treasury and London-based Standard Chartered to settle claims over the transactions, several of the sources said.

Berenberg upgrade the stock from sell to hold. Up over 6% in early trading.