Bulletin: Standard Chartered Can Manage Property Risks, Amid Steady Performance Outlook In 2024

HONG KONG (S&P Global Ratings) Feb. 26, 2024--Standard Chartered PLC is well positioned to navigate the ongoing strain in the property sector in its key markets, such as Hong Kong, China, and the U.S. In our view, Standard Chartered group's creditworthiness should remain well supported by its adequate risk management, sound capitalization, and strong funding and liquidity. Standard Chartered PLC (BBB+/Stable/A-2) and its subsidiaries, Standard Chartered Bank (SCB; A+/Stable/A-1) and Standard Chartered Bank (Hong Kong) Ltd.'s (A+/Stable/A-1) financial performance in 2023 was also broadly in line with our expectations, showing good progress in terms of profitability improvement. The group delivered on its targeted underlying return on tangible equity at 10.1% in 2023, compared with 7.7% in 2022. The group's return

...February 26, 2024 HONG KONG (S&P Global Ratings) Feb. 26, 2024--Standard Chartered PLC is well positioned to navigate the ongoing strain in the property sector in its key markets, such as Hong Kong, China, and the U.S. In our view, Standard Chartered group's creditworthiness should remain well supported by its adequate risk management, sound capitalization, and strong funding and liquidity. Standard Chartered PLC (###+/Stable/A-2) and its subsidiaries, Standard Chartered Bank (SCB; A+/Stable/A-1) and Standard Chartered Bank (Hong Kong) Ltd.'s (A+/Stable/A-1) financial performance in 2023 was also broadly in line with our expectations, showing good progress in terms of profitability improvement. The group delivered on its targeted underlying return on tangible equity at 10.1% in 2023, compared with 7.7% in 2022. The group's return on average assets improved to close to 0.45% in 2023 versus about 0.35% in 2022. This was mainly driven by net interest margin (NIM) expansion to 1.67% in 2023,...

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