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#2
April 6th, 2017, 08:03 AM
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| Re: Standard Chartered Full Year Results
The results for the year ended 31 December 2016 of Standard Chartered PLC (the Group) are as follows: Financial Performance Summary • Operating income of $13.8bn down 11 per cent but stable through each quarter of 2016 • Profit before tax of $1.1bn up from $0.8bn in 2015 • Operating expenses of $10.0bn down 5 per cent and lower for the second year running • Gross cost efficiencies of over $1.2bn created capacity to increase investment in the second half • Loan impairment in the ongoing business of $2.4bn was flat like-for-like but remains elevated • Restructuring charges of $855m related primarily to the liquidation portfolio and redundancy costs • Statutory profit before tax of $409m compared to a loss of $1.5bn in 2015 • Underlying basic earnings per share of 3.4 cents (2015: negative 6.6 cents) • Underlying return on Ordinary shareholders’ equity of 0.3 per cent (2015: negative 0.4 per cent) Strengthened capital and improved liquidity position • Common Equity Tier 1 ratio of 13.6 per cent up 100bps mainly due to reduced risk-weighted assets • $2bn Additional Tier 1 capital issued in August 2016 and a further $1bn in January 2017 • Advances to deposits ratio of 67.6 per cent reflects a high level of funding from customer deposits • No Ordinary Share dividend declared for 2016 Standard Chartered Full Year Results 2016     |