Bulletin: Standard Chartered Stays Resilient In Tough Environment

HONG KONG (S&P Global Ratings) July 30, 2020--S&P Global Ratings said today the impact of COVID-19, low interest rates, and trade conflicts continued to overshadow the performance of Standard Chartered Bank (A/Stable/A-1), Standard Chartered Bank (Hong Kong) Ltd. (A+/Stable/A-1), and their parent Standard Chartered PLC (BBB+/Stable/A-2). Standard Chartered group's credit cost remained elevated despite resilience in its topline performance and good cost control in the first half of 2020. In addition, political developments between the U.S., China, and Hong Kong could pose uncertainty for the group's core business markets of Hong Kong and China. Nevertheless, we believe the Standard Chartered group's increased focus in the past few years on risk-adjusted returns, better risk management, reduced concentration risk, and careful selection

...July 30, 2020 HONG KONG (S&P Global Ratings) July 30, 2020--S&P Global Ratings said today the impact of COVID-19, low interest rates, and trade conflicts continued to overshadow the performance of Standard Chartered Bank (A/Stable/A-1), Standard Chartered Bank (Hong Kong) Ltd. (A+/Stable/A-1), and their parent Standard Chartered PLC (###+/Stable/A-2). Standard Chartered group's credit cost remained elevated despite resilience in its topline performance and good cost control in the first half of 2020. In addition, political developments between the U.S., China, and Hong Kong could pose uncertainty for the group's core business markets of Hong Kong and China. Nevertheless, we believe the Standard Chartered group's increased focus in the past few years on risk-adjusted returns, better risk management, reduced concentration risk, and careful selection of target markets could help the bank to navigate the very tough operating environment. The group's first-half 2020 performance is broadly in...

Bulletin