Of Special Interest
Filters
- Newslink Trends-The Global Strategic Perspective
- Juniper Research says digital wallet users to exceed 4.4 billion by 2025, as mobile drives digital payments’ revolution
- Criminals exploit COVID-19 pandemic with rise in scams targeting victims online
- Equifax says Open Banking proving pivotal to pandemic lending
- Consumer confidence in banks, credit card providers and investments remain stable as demand supercharges digital finance says Toluna research
- Mintos says Europeans are starting to embrace investing
- US banks see IT modernisation as a way to improve customer experience
- Risk mitigation in global trade depends on digitisation-Andrew Raymond, CEO, Bolero International comments
- Juniper Research new study says the volume of B2B payments facilitated by non-banks will exceed 53 billion in 2022, from a COVID-related low of 38 billion in 2020
- CMA issues fifth publication over 3 years of the service quality league table of personal and business current account providers
- Barclays says scammers take advantage of COVID-19, cashing in on nations’ uncertainty
- S&P Global report says financial market infrastructure sector's earnings likely to cool off In second half
- Global banking market capitalisation slumps by over 30% amid pandemic says Buyshares research
- Digital wallet spend in Europe & North America to increase by 40% in 2019, finds study
- Juniper forecasts mobile money transactions will exceed 200 billion by 2024
- Banks can save the world from climate change, says former UN climate chief
- Research by NatWest reveals gender divide over attitudes to saving
- Europe’s big bank problem: too much capital is trapped in the US, says Scope
- Later-Life lending market set to almost double in the next 10 years, finds report
- Barclays/Cebr report challenges nation to think differently about wealth
- Fifth of UK investors looking to debt investment, new research reveals
- Regtech will play a more important role in PSD2, says Mitek
- Banks turn to Fintech partnerships to improve customer experience, finds Fraedom
- New industry code to tackle fraud must deliver, says Which?
- New TTF report highlights loss of trust in financial services
- Arxan highlights financial app vulnerability epidemic
- SAS asks whether banks really need to choose between operations and innovation
- Which? raises alarm as almost 1,700 free ATMs become fee-charging
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
5th August 2011
StanChart yet again reports record profits
Standard Chartered reported net attributable of $2,566m (€1,794m £1,566m ¥197.7bn Y16,510m) for the first half, UP 19%.
The bank reported profits up in every territory except for India. This is the ninth successive year reporting record first half profits. Lending was up 22% on a year ago. No surprise that the biggest profit increases were in Asia Pacific with Singapore profits up 34%, Hong Kong up 23%, China up 19% and South Korea 14%. Other regions also did well with Americas and Europe up 11% and Africa up 10%. Regarding India the bank mentioned interest rates, regulatory changes and an increasingly competitive market for its difficulty.
The bank's strength in regions where there remains a savings culture is important. The bank's Loan to Deposit ratio is 78%, leaving it free of liquidity worries and a net lender to the wholesale markets.
Income summary - first half 2011 2010 Change
$m $m %
Interest income 7,886 6,462 22
Interest expense -2,945 -2,307 28
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Net interest income 4,941 4,155 19
Fees and commission income 2,401 2,288 5
Fees and commission expense -222 -140 59
Net trading income 1,366 1,351 1
Other operating income 278 270 3
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Non-interest income 3,823 3,769 1
Operating income 8,764 7,924 11
Staff costs -3,224 -2,808 15
Premises costs -422 -381 11
General administrative expenses -731 -884 -17
Depreciation and amortisation -300 -271 11
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Operating expenses -4,677 -4,344 8
Operating profit before impairment losses 4,087 3,580 14
Credit impairment losses and provisions -412 -437 -6
Other impairment -72 -50 44
Profit from associates 33 23 43
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Profit before taxation 3,636 3,116 17
Taxation -1,032 -935 10
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Profit for the period 2,604 2,181 19
Non-controlling interests 38 33 15
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Attributable to shareholders 2,566 2,148 19