|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||13.78 - 13.90|
|52 Week Range||12.08 - 14.77|
|Beta (5Y Monthly)||1.25|
|PE Ratio (TTM)||1,338.35|
|Forward Dividend & Yield||0.18 (1.28%)|
|Ex-Dividend Date||Mar 10, 2021|
|1y Target Est||N/A|
Rating Action: Moody's assigns Prime-1 short-term local-currency rating to Standard Chartered Bank AG's commercial paper programGlobal Credit Research - 31 Mar 2021Frankfurt am Main, March 31, 2021 -- Moody's Investors Service ("Moody's") has today assigned a short-term local currency rating of Prime-1 (P-1) to Standard Chartered Bank AG's ("SCB AG") proposed E5 billion commercial paper program. The rating reflects Moody's view that terms and conditions of the final documents will not differ materially from the draft documents it has already reviewed.All other ratings of SCB AG were unaffected by today's rating action.RATINGS RATIONALEThe P-1 short-term local currency commercial paper rating of SCB AG reflects the bank's A1 long-term local currency issuer rating and is in line with the rating agency's usual mapping from long-term to short-term ratings.SCB AG is a wholly-owned subsidiary of UK-domiciled Standard Chartered Bank (SCB, deposits A1/senior unsecured A1 stable, Baseline Credit Assessment (BCA) baa2) in Germany and is an important legal entity for the group, providing Euro clearing services to the clients of Standard Chartered group.
If you want to know who really controls Standard Chartered PLC ( LON:STAN ), then you'll have to look at the makeup of...
Standard Chartered aims to triple its income from the Greater Bay Area over the next five years as it expands in one of the world's fastest-growing areas. Standard Chartered last month reported a worse-than-expected pre-tax loss of US$449 million in the fourth quarter. The bay area still reported growth last year as China became the first major economy to report growth after largely containing the Covid-19 outbreak. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. "We will expand in the Greater Bay Area business in a wide range of sectors, from wealth management, retail banking to other corporate banking business," Lin said in an online media briefing. Standard Chartered last year became the first major bank to announce the creation of a chief executive role for the Greater Bay Area. Lin, a Hong Kong native who was formerly head of Taiwan for Standard Chartered, took the position in October. Bank of East Asia and HSBC in February also appointed new heads to take charge of the Greater Bay Area. These appointments show local lenders are eyeing business growth in the zone which comprises 11 cities with a population of 72 million, 10 times that of Hong Kong. Beijing wants to promote talent and capital flow among the cities of the future economic hub, including a wealth management connect scheme which will allow mainland residents to invest in international investment products via Hong Kong banks. At the same time, Hong Kong residents will be able to invest in mainland products through Chinese banks. "Wealth management connect will be the next big thing in the Greater Bay Area. The manufacturing and innovation industries and are creating many wealthy people in the area," he said. Four out of the top 10 wealthiest cities in mainland China - in terms of the number of people with net investment assets of at least 6 million yuan (US$923,531) - are in the Greater Bay Area cities of Guangzhou, Shenzhen, Foshan and Hong Kong, Lin said. These rich individuals want wealth management services, and the new connect scheme will give them a greater choice of products. Standard Chartered now has 90 outlets in mainland China, including 19 in the bay area cities of Guangzhou, Shenzhen, Foshan and Zhuhai. Besides wealth management, Standard Chartered also plans to get involved in green finance services in the bay area, Lin said. Guangzhou has recently set up a futures exchange with a focus on trade climate-related investment products. Hong Kong Exchanges and Clearing has a 7 per cent stake in the exchange. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2021 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2021. South China Morning Post Publishers Ltd. All rights reserved.