Report
Stephen Ellis
EUR 147.86 For Business Accounts Only

Standard Chartered Makes Good Progress on Restructuring in Q3

Standard Chartered delivered a good third quarter, and we plan to maintain our GBX 610/HKD 62 per share fair value estimate and no-moat rating. We were pleased to see the bank make steady progress on its turnaround, with Standard Chartered having liquidated 70% of its $20 billion in identified risk-weighted assets and remaining on track to deliver over $1 billion in cost saving this year, which should free up capital to be invested in the business. Restructuring charges also looked to be on trac...
Underlying
Standard Chartered PLC

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Stephen Ellis

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