Financial News
Author: Hu Xueneng
2020-07-30 13:03
Last update date: 2020-07-30 13:15Standard Chartered Group (2888) announced its interim results as of the end of June this year. The pre-tax statutory profit of 249 million yuan (USD ‧ the same below) from the Indian business was 1.627 billion yuan (USD ‧ the same below), a year-on-year decrease of 33%; The previous basic profit was 1.955 billion yuan, down 25% year-on-year, better than expected. No interim dividend will be paid.
Standard Chartered changed from decline to rise in the afternoon, and its latest price was 44.15 yuan, up 3.6%.
During the period, revenue increased by 5% to 8 billion yuan. If calculated on a fixed exchange rate basis, it would increase by 7%. Excluding the positive adjustment of debt value by 146 million yuan, revenue would increase by 5% on a fixed exchange rate basis. Among them, net interest income was 3.502 billion yuan, down 9% year-on-year, and other income was 4.545 billion yuan, up 19% year-on-year.
Standard Chartered pointed out that the net interest margin narrowed by 26 basis points to 1.4% in the first half of the year, and narrowed by 24 basis points to 1.28% in the second quarter of this year.
Standard Chartered also pointed out that the basic pre-tax profit of the Hong Kong business was 705 million yuan, down 19.2% year-on-year; the Singapore business turned profit into a loss with a loss of 123 million yuan.
Credit impairment increased by more than 5 times year-on-year
In the first half of the year, Standard Chartered's credit impairment was 1.576 billion yuan, a year-on-year increase of 520%. The bank pointed out that the first and second stages of impairment in the first half of the year increased by 586 million yuan to 668 million yuan, half of which came from additional allocations by management. The third stage of impairment increased by 727 million yuan to 899 million yuan in the first half of this year. There were no new major exposures in the second quarter.
In the second quarter of this year, the third stage and credit grade 12 net risk exposure increased by 22% to 5.1 billion yuan, and early warning increased by 2.9 billion yuan to 14.4 billion yuan.
40 million shares repurchased and cancelled in the first quarter
As of the end of June this year, with the sale of Permata, the Tier 1 capital ratio of common shares increased by 90 basis points to 14.3%, which is higher than the mid-term target range of 13 to 14%.
Standard Chartered also pointed out that 40 million shares were repurchased and cancelled in the first quarter of this year.
Standard Chartered Performance
