Standard Chartered Delivers Strong Performance in 2024 and Q1 2025
Why we think this is neutral
The RNS announcement is a general update on the company's performance and does not contain any specific news that would warrant a positive or negative sentiment score. The information provided is factual and does not indicate any major concerns or unexpected developments.
Key Points
- Standard Chartered delivered record income of $19.7 billion in 2024, up 12% on a constant currency basis
- Return on Tangible Equity was 11.7% in 2024, up 160 basis points year-on-year
- The company is targeting RoTE approaching 13% in 2026 and continued progress thereafter
- Q1 2025 performance was strong, with income up 7% year-on-year and earnings per share up 19%
Summary
Standard Chartered PLC delivered a strong performance in 2024, with record income of $19.7 billion and a return on tangible equity of 11.7%. The company saw very strong performance in its Wealth business, as well as double-digit growth in Global Banking and Global Markets. Standard Chartered also maintained a robust capital position and increased its full-year dividend by 37%. The positive momentum has continued into Q1 2025, with income up 7% year-on-year in constant currency and earnings per share up 19%.