Cover for The Patriot on Sunday
214,363
The Patriot on Sunday

The Patriot on Sunday

A Sunday broadsheet newspaper that focuses on business and politics. It started publishing on Sunday

The Patriot on Sunday

9 hours ago

The Patriot on Sunday
#sport #backpagethisweek 🔵 HEADLINE: LITMUS TEST FOR MALETE FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday

9 hours ago

The Patriot on Sunday
#businessfrontpagethisweek HEADLINE: Digital Shift BW disruption BTC LEADS DIGITAL PENETRATION FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday

11 hours ago

The Patriot on Sunday
#opinionsreviewandanalysis BOTSWANA VIOLATES SADC PROTOCOL ON VOTER REGISTRATION *ADAM PHETLHE ON SUNDAY FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday

1 day ago

The Patriot on Sunday
SEROWE KGOTLA MEETING FAILDuring a short briefing of media today in Serowe, the Bangwato royal uncles said they took a decision to postpone Serowe Kgotla meeting which was supposed to be held today (Saturday) after consultation with their lawyer.They said they are now taking the legal route to challenge being denied permission to convene meeting at the main Kgotla.A new date is due to be announced soon. Despite postponement, Police took no chance and barricaded the kgotla. ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

The Patriot on Sunday

1 day ago

The Patriot on Sunday
UDC/IEC case requires urgent political interventionThey say desperate times call for desparate measures. Botswana’s desparate electoral situation requires political intervention to end the raging legal tug of war between the UDC & the IEC. It appears the legal festival currently raging in the High Court will not end anytime soon if yesterday's spectacle at the F'town High Court is anything to go by resulting in grave uncertainty as to when the voter registration exercise will commence & whether other phases of the electoral processes will properly fall into place.Political intervention from govt will prevail upon the IEC to withdraw from the case & allow the UDC to observe & monitor voter registration for transparency & fairness. This far, it hasn't come out clearly what harm if any, will UDC’s observation of the voter registration exercise cause. It would have been fulfilling to watch the end product of the legal festival at the High Court & the Court of Appeal. But like they say again, time is of the essence. Much as time for the electoral process to set in motion voter registration has been negatively impacted, no more time should be afforded to be wasted. If the elections date was still far away, I would have no qualms with the festival going on until the very end for obvious reasons.The sad reality is that the elections date is around the corner & voter registration is yet to commence.Govt has a choice to make in the circumstances: Avoid Constitutional crisis in so far as elections are concerned for such will have other legal & political implications for Botswana’s democratic credentials OR, perpetuate it. ... See MoreSee Less

Photo

View on Facebook
· Share

Share on Facebook Share on Twitter Share on Linked In Share by Email

  • Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New MultilateralismNovember 30, 2023
    Prime Minister of India Narendra Modi Today marks 365 days since India assumed the G20 Presidency. It is a moment to reflect, recommit, and rejuvenate the spirit of ‘Vasudhaiva Kutumbakam, ‘One Earth, One Family, One Future.’ As we undertook… Read more: Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New Multilateralism
  • BNF get 15 UDC constituencies November 29, 2023
    BAKANG TIRO editors@thepatriot.co.bw The first phase of constituency allocation between Umbrella for Democratic Change (UDC) and its negotiating parties, Botswana Patriotic Front (BPF) and Alliance for Progressives (AP) has seen Botswana National Front (BNF) emerging as the biggest winner… Read more: BNF get 15 UDC constituencies 
  • BHP launches Tshireletso StudyNovember 28, 2023
    . Long-Acting Injectable Cabotegravir for HIV prevention in newly delivered mothers in Botswana The Botswana Harvard Health Partnership (BHP) has today launched the ‘Tshireletso’ Study which is offering long-acting injectable cabotegravir (CAB-LA) to post-partum women immediately after delivery to… Read more: BHP launches Tshireletso Study
  • Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award November 24, 2023
    Orange Botswana celebrates the business’ CEO, Nene Maïga, on her prestigious Female Innovator of the Year Award 2023, received at the Africa Tech Festival Awards in Cape Town, South Africa. This distinguished accolade recognises the exceptional contributions of women in the fields of technology, media, and telecommunications… Read more: Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award 
  • Govt’s P1.4billion Tati land headacheNovember 23, 2023
    BAKANG TIRO editors@thepatriot.co.bw The 45 000 hectares of land recently acquired by Botswana government from Tati Company to the tune of P1.4 billion, will address acute land shortage in Northeast district, the Minister of Lands and Water Affairs (ML&WA),… Read more: Govt’s P1.4billion Tati land headache
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Sunday, December 3, 2023
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Stan-Chart in third year of profit growth

patriot by patriot
January 17, 2021
in Business
235
0
491
SHARES
1.4k
VIEWS
ShareShareShare

Standard Chartered PLC has released its results for the year ended 31 December 2018.  

 “We have made tremendous progress securing the foundations of the business since 2015, resulting in a third successive year of underlying profit growth. Our refreshed priorities will help realise the true value of the franchise. We will measure this not only in monetary terms with double-digit equity returns and significant shareholder distributions targeted by 2021, but also in the positive impact to our clients, stakeholders and communities. We are determined to drive commerce and help our clients achieve prosperity while doing everything that we can to make the world a cleaner, safer and more sustainable place,” said Bill Winters, Group Chief Executive.

There has been further significant improvement in returns.

Significant improvement in profitability driven by higher quality income growth with cost and asset origination discipline; Operating income of $15.0bn was up 5%, with RWAs down 8%; Broad-based by product, with Transaction Banking growing particularly strongly driven by Cash Management; Wealth Management grew 3% but momentum slowed as sentiment weakened in the second half; Strong performance in GCNA region; challenging conditions in AME region; and Net interest income increased 8% and the net interest margin improved 3 basis points to 1.58%

The Group has delivered $3.2bn in gross cost efficiencies, exceeding the target set in November 2015; Cash investments of $1.6bn were up 9%, with the amount allocated to strategic initiatives trebling over the last

three years. The UK bank levy was $324m; in 2021 it will be chargeable on only the Group’s UK balance sheet; and Asset quality improved due to a continued focus on higher quality origination within a more granular risk appetite. Credit impairment of $740m was 38% lower with significant improvements in CIB and RB;Underlying profit before tax of $3.9bn was up 28% driven by the Group’s largest segments and regions;

Statutory profit before tax of $2.5bn is stated after provision for regulatory matters and restructuring and other items and was 6% higher. The Group made a $900m provision in respect of legacy financial crime control matters and FX trading issues; Restructuring and other items included Q4 charges of $158m following the announcement to sell Principal; Finance and $169m related to the refreshed strategic priorities announced. RoE improved 110 basis points to 4.6% and RoTE improved 120 basis points to 5.1%; Basic earnings per share increased 14.2 cents to 61.4 cents.

The Board has recommended a final dividend of 15 cents per ordinary share, up 36% from 11 cents in 2017

Stronger capital and more resilient balance sheet

The CET1 ratio increased 60 basis points to 14.2%; above the Group’s updated target range of 13-14%;

Broad-based balance sheet growth: average customer assets and customer accounts were up 7% and 5% respectively;  and Stronger balance sheet positions the Group for sustainable long-term growth while increasing resilience to shocks.

Outlook

Refreshed priorities announced separately today aimed at delivering significantly and sustainably higher returns; Return on tangible equity targeted to be at least 10% by 2021; We intend to distribute to shareholders surplus capital that is not deployed to fund additional growth

Income compound annual growth rate target remains at 5-7%;

Solid start to 2019, although down slightly compared to 2018 due to stronger USD and buoyant conditions last year in WM and FM

Related

Tags: STANCHART

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New MultilateralismNovember 30, 2023
    Prime Minister of India Narendra Modi Today marks 365 days since India assumed the G20 Presidency. It is a moment to reflect, recommit, and rejuvenate the spirit of ‘Vasudhaiva Kutumbakam, ‘One Earth, One Family, One Future.’ As we undertook… Read more: Towards a Brighter Tomorrow: India’s G20 Presidency and the Dawn of a New Multilateralism
  • BNF get 15 UDC constituencies November 29, 2023
    BAKANG TIRO editors@thepatriot.co.bw The first phase of constituency allocation between Umbrella for Democratic Change (UDC) and its negotiating parties, Botswana Patriotic Front (BPF) and Alliance for Progressives (AP) has seen Botswana National Front (BNF) emerging as the biggest winner… Read more: BNF get 15 UDC constituencies 
  • BHP launches Tshireletso StudyNovember 28, 2023
    . Long-Acting Injectable Cabotegravir for HIV prevention in newly delivered mothers in Botswana The Botswana Harvard Health Partnership (BHP) has today launched the ‘Tshireletso’ Study which is offering long-acting injectable cabotegravir (CAB-LA) to post-partum women immediately after delivery to… Read more: BHP launches Tshireletso Study
  • Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award November 24, 2023
    Orange Botswana celebrates the business’ CEO, Nene Maïga, on her prestigious Female Innovator of the Year Award 2023, received at the Africa Tech Festival Awards in Cape Town, South Africa. This distinguished accolade recognises the exceptional contributions of women in the fields of technology, media, and telecommunications… Read more: Orange Botswana CEO, Nene Maïga, Wins Female Innovator of the Year Award 
  • Govt’s P1.4billion Tati land headacheNovember 23, 2023
    BAKANG TIRO editors@thepatriot.co.bw The 45 000 hectares of land recently acquired by Botswana government from Tati Company to the tune of P1.4 billion, will address acute land shortage in Northeast district, the Minister of Lands and Water Affairs (ML&WA),… Read more: Govt’s P1.4billion Tati land headache
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?