Standard Chartered share price: Bank publishes full-year results

on Mar 4, 2015
Updated: Oct 21, 2019

Standard Chartered Plc (LON:STAN) today released its financial report for the twelve months ended December 31. Highlights from the report provided below, with more to follow:

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**Reported results:** Operating income of $18,234 million is down 2 per cent from 2013; Profit before tax of $5,193 million is down 25 per cent from 2013; Customer advances down 3 per cent to $289 billion, customer deposits up 6 per cent to $414 billion.
**Performance metrics:** Dividend per share at 86.00 cents per share, the same level as 2013; Normalised earnings per share declined 28 per cent to 145.9 cents from 204.0 cents in 2013; Normalised return on ordinary shareholders’ equity of 7.8 per cent (2013: 11.2 per cent).

**Capital and liquidity metrics:** Common Equity Tier 1 (CET 1) of 10.7 per cent on an end point basis under CRD IV rules5, 10.5 per cent on a transitional basis; Advances-to-deposits ratio of 69.7 per cent (2013: 75.7 per cent); Liquid asset ratio of 32.2 per cent (2013: 29.8 per cent).
**Key messages:** 2014 performance impacted by the challenging market environment, de-risking and disposal actions; Loan impairment increased 32 per cent primarily in Corporate and Institutional and Commercial Clients; Reallocated $8.5 billion risk weighted assets from low returning relationships and announced 15 business disposals; Strong balance sheet with healthy liquidity, leverage, and capital ratios.

**Programme of actions:** Significant leadership changes; CET1 target of 11-12 per cent in 2015 and thereafter; Return on Equity target greater than 10 per cent in the medium term; $1.8 billion of cost savings over the next 3 years; $25 – $30 billion in Risk Weighted Assets savings over the next 2 years; Sustain momentum on raising the bar on conduct.
**Commenting on these results, the Chairman of Standard Chartered PLC, Sir John Peace, said:** “2014 was a challenging year and our performance was disappointing, but it was also a year when we took decisive action to refocus our strategy and to reposition the Group for the future and to restore shareholder value.”
**Commenting on these results, the Chief Executive Officer of Standard Chartered PLC, Peter Sands, said:** “We are reshaping the Bank to respond to the way our world has changed and to ensure we fulfil our aspiration to bank the people and companies driving trade, investment and the creation of wealth across Asia, Africa and the Middle East. I leave Standard Chartered proud of what we have achieved and confident about what the future holds for this extraordinary institution”
As of 08:44 GMT, Wednesday, 04 March, Standard Chartered PLC share price is 971.75p.


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