Standard Chartered's Potential Share Buyback No Surprise; Bank Remains Undervalued
No-moat Standard Chartered’s potential $1 billion share buyback, according to media reports, is no surprise given the bank’s excess level of capital. After the full-year result, management was aiming for ordinary dividend per share to double by fiscal 2021, underpinned by improving profitability. This is supplemented by further divestment of its non-core business. Return on Tangible Equity, or RoTE, of 10% is the target for 2021, from 5.1% now, while maintaining the common equity Tier 1 ratio of...Standard Chartered is a holding company and an international banking group that serves people and companies across Asia, Africa and the Middle East. Co. comprises a network of more than 1,026 branches and outlets in 63 markets. Co.'s segments are: Corporate & Institutional Banking, which supports transaction banking, corporate finance, financial markets and borrowing needs; Private Banking, which provides a range of investment, credit and wealth planning solutions; Commercial Banking, which provides a range of international financial solutions; Retail Banking, which provides digital banking services. At Dec 31 2017, Co. had total assets of US$663.50 billion and deposits of US$30.94 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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