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HKG:2888

55 stories mentioning HKG:2888Updated 1d ago

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Asia

Standard Chartered's Attributable Profit Rises 2% in Q2

Standard Chartered (HKG:2888) posted attributable profit of $1.76 billion for the second quarter, up 2% from $1.73 billion a year earlier, according to a Wednesday Hong Kong bourse filing.Earnings per share at the lender came in at $0.753 from $0.705 a year earlier.Adjusted net interest income increased 6% on a constant currency basis to $2.87 billion from $2.70 billion.It announced a $1 billion share buyback, which is expected to reduce the CET1 ratio by 38 basis points, and raised its interim dividend by 66% to $0.204 per share.

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Asia

StanChart Engages Broadcom to Advance Global Cloud Infrastructure Shift

Standard Chartered (HKG:2888) has engaged Broadcom to expedite its global infrastructure modernization through a private cloud foundation designed to support critical banking services across 54 markets globally, according to a Thursday release by the latter.The lender realigned its infrastructure delivery to a private cloud environment using Nasdaq-listed Broadcom's VMware Cloud Foundation.70% of Stanchart's global infrastructure footprint is already running on the new architecture, the release said.The move "enables Standard Chartered to meet the evolving demands of our clients while strengthening our technological core with the responsiveness, resilience and regulatory compliance that global banking demands," the lender's Global Head of Technology and Infrastructure, John Sharratt, said.

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Asia

StanChart Names Group Chief Financial Officer

Standard Chartered (HKG:2888) appointed Manus Costello as its group chief financial officer effective immediately after obtaining regulatory approvals, according to a Wednesday Hong Kong bourse filing.

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Asia

StanChart Taps BlackRock's Aladdin Wealth to Enhance Advisory Platform

Standard Chartered (HKG:2888) has partnered with BlackRock to integrate the Aladdin Wealth platform into its myWealth Advisor platform, according to a Monday press release.The bank said the collaboration will enhance its wealth advisory and portfolio risk management capabilities for relationship managers and investment advisors.The integration will provide advanced portfolio analytics, risk and return analysis, stress testing, and scenario analysis to support more personalized investment advice for affluent clients.The initial rollout will cover Singapore and Hong Kong for priority, priority private and private banking clients, with plans to expand to additional markets over time.

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Asia

Market Chatter: HSBC, StanChart Eye Loan Risk Transfer Transactions

HSBC (HKG:0005) is in early discussions with investors on a significant risk transfer transaction linked to a portfolio of Asia-Pacific loans, Bloomberg News reported Friday, citing people familiar with the matter.The proposed deal could include loans from Hong Kong, Singapore, India, and Australia and may be completed later this year, the report said.Separately, Bloomberg reported that Standard Chartered (HKG:2888) is considering a transaction tied to about $2 billion of global corporate loans under its Chakra significant risk transfer program.The terms of the deal remain under discussion with investors and could change, the report said.Standard Chartered declined to comment on the matter in response to a query from.Meanwhile, HSBC has yet to reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Standard Chartered Bank (Singapore) Files for Singapore Listing of GBP500 Million Bonds

Standard Chartered Bank (Singapore), a unit of Standard Chartered (HKG:2888), filed for the listing of 500 million pounds worth of floating-rate covered bonds due 2029 on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The bonds will be listed and quoted on the Bonds Market on July 1, the bank said.

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Asia

Market Chatter: Standard Chartered Mulling Sale of Bahrain Operations

Standard Chartered (HKG:2888) is exploring the sale of its wealth and retail banking business in Bahrain, Reuters reported on Tuesday.The disposal is part of the London-based bank's strategy to exit smaller retail and wealth markets and focus on clients at scale, the bank reportedly told Reuters.The transition is expected to take at least 18 months, while corporate and investment banking operations in Bahrain will remain unaffected, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:2888
Asia

Singapore Airlines Launches 1.5-Billion-Yuan Dim Sum Bonds

Singapore Airlines (SGX:C6L) launched 1.50 billion yuan in "dim sum" bonds, according to a Wednesday filing with the Singapore Exchange.The dim sum bonds, which are yuan-denominated bonds offered outside of China, hold an interest rate of 2.38% and will mature in 2031.The company will use the proceeds to purchase aircraft, make aircraft-related payments, and fund general corporate or working capital purposes.The Singapore branches of Bank of China (HKG:3988, SHA:601988), HSBC (HKG:0005), Standard Chartered Bank (HKG:2888), and DBS Bank (SGX: D05) are the joint lead managers.Shares of Singapore Airlines rose 1% during morning trading.

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Treasury

Market Chatter: DBS Bank to Sell Three-Year USD Benchmark Covered Bond

Singapore-based DBS Group Holdings' (SGX:D05) subsidiary DBS Bank is planning to sell a three-year US dollar benchmark covered bond, which has a maturity date of June 29, 2029, Reuters reported Monday, citing a term sheet.The bond is expected to be settled on June 29, 2026, the report said.The bonds will be offered at a spread of 42 basis points over secured overnight financing rate (SOFR) mid-swaps, backed by a pool of Singapore residential mortgage loans, and guaranteed by Bayfront covered bonds.The notes are expected to receive ratings of Aaa from Moody's and AAA from Fitch Ratings. Joint lead managers for the offering include BMO Capital Markets, HSBC (HKG:0005), RBC Capital Markets, Standard Chartered PLC (HKG:2888) subsidiary Standard Chartered Bank, and TD Securities.DBS Bank did not immediately reply to' request for comment.Shares of DBS Group Holdings rose nearly 1% in recent trade, while those of Standard Chartered PLC added over 1%.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Singapore Airlines Reportedly Picks Banks for Five-Year Bond Sale

Singapore Airlines (SGX:C6L) mandated Bank of China (SHA:601988), DBS, HSBC (HKG:0005) and Standard Chartered (HKG:2888) as arrangers for a five-year bond sale, Reuters reported, citing a document it saw.The airline could launch the offering as early as Tuesday, with the bonds reportedly worth at least 1 billion yuan, according to the Monday report.Singapore Airlines did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 773,200 shares on Monday at an average price of around 19.41 pounds sterling apiece, according to a Tuesday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.2 billion shares in issue.

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Asia

StanChart's Saudi Arabia Arm Gets Investment Management, Fund Operation Nod

Standard Chartered's (HKG:2888) Saudi Arabia wing obtained regulatory approval for investment management and fund operation activities in the country, according to a Monday release.The go-ahead from the Capital Market Authority (CMA) will allow the bank to support institutional clients amid broadening investor participation and capital market activity in the country.

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Asia

Market Chatter: UK-Listed Financial Firms in Hong Kong Slump After Chinese Media Reports Tighter Offshore Account Curbs

Trading of UK-listed financial firms in Hong Kong-HSBC, Prudential, and Standard Chartered-slumped Thursday after a Chinese media report said mainland residents now face tighter restrictions on opening offshore accounts at major Hong Kong banks, Reuters News reported on the same day.The Bank of East Asia's Shanghai branch stopped opening overseas investment accounts for mainland clients, and HSBC's Lujiazui staff said deposited funds must comply with Hong Kong rules, the newswire reported, citing the South China Morning Post.As a result, HSBC, Standard Chartered, and Prudential tumbled between 5% and 6.3% in London, and AIA Group dropped 6.8% in Hong Kong, the publication said.HSBC, Prudential, and Standard Chartered were not immediately reachable for comment when contacted by Reuters, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 742,984 shares on Monday at an average price of around 20 pounds sterling apiece, according to a Tuesday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.2 billion shares in issue.

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Asia

Standard Chartered to Issue $1 Billion in Debt

Standard Chartered (HKG:2888) plans to issue $1.00 billion in bonds, according to a Friday filing with the Hong Kong bourse.The lender plans to issue the debt in the form of fixed-rate resetting perpetual subordinated contingent convertible securities that will be listed in London and Hong Kong. Issuance is expected to take place June 8.The bonds will offer interest at an initial rate of 7% and convert into shares of Standard Chartered at the rate of $26.379 per share.Funds raised will be used for general business purposes, the bank said.

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Asia

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 768,801 shares on May 22 at an average price of 19.42 pounds sterling apiece, according to a Tuesday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.21 billion shares in issue.

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Asia

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 773,000 shares on Thursday at an average price of 19.33 pounds sterling apiece, according to a Friday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.21 billion shares in issue.

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Asia

StanChart Clarifies Talent Strategy After "Lower-Value Human Capital" Comment Sparks Criticism

Standard Chartered (HKG:2888) has responded to backlash following Bill Winters' remark about replacing "lower-value human capital" with financial and investment capital."Talent is core to our strategy as we continue to invest to create new, reskill and redeploy roles - this will be done in line with regulatory expectations," Global Head of Corporate Communications Robbie Sommerville told."Where roles fall away in line with evolving technology, capabilities, and client needs, we will engage early and support them through change," he added, responding to a request for comment by.The backlash came about as a result of Winters' comments around the bank's plans to slash corporate function roles by more than 15% by 2030.Winters previously reassured staff in a memo on Wednesday, writing "Many of you will have seen media coverage following the Investor Event in Hong Kong, particularly the reporting around automation, AI, and workforce changes," Bloomberg reported."I know this may be unsettling when reduced to simple headlines or a quote out of context," he added in the memo seen by Bloomberg News.

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Asia

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 795,000 shares on Wednesday at an average price of 19.02 pounds sterling apiece, according to a Thursday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.21 billion shares in issue.

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Asia

Update: StanChart Raises Long-Term Targets, Plans 15% Cut in Corporate Roles by 2030

(Updating to add comment by Standard Chartered CEO)Standard Chartered (HKG:2888) aims to deliver return on tangible equity above 15% in 2028, up more than 3 percentage points from 2025, with the figure expected to reach about 18% by 2030, according to a Tuesday Hong Kong bourse filing.The bank also plans to reduce corporate function roles by more than 15% by 2030."It's not cost-cutting. It's replacing in some cases lower-value human capital with the financial capital and ​the investment capital we're putting in," Reuters reported Tuesday, citing Standard Chartered CEO Bill Winters.Standard Chartered targets high-teens earnings-per-share compound annual growth and income CAGR of 5% to 7% from 2025 to 2028.The lender plans to lower its cost-to-income ratio to about 57% in 2028 from 63% in 2025.

HKG:2888

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