May 02, 2024 04:38 GMT
StanChart 1Q24 Headlines: Major Revenue Beat, Positive Credit
FINANCIALS
Standard Chartered (STANLN: A3/BBB+/A) results headlines look like a major (10.6%) revenue beat (lots is trading income, however) driving a >30% pre-tax profit beat.Loan losses lower than expectations and tiny China CRE charge. Relief for the equity but spreads have already performed well YTD so perhaps insufficient to drive another increment.
- STANDARD CHARTERED 1Q ADJ. CREDIT IMPAIRMENT CHARGE $176M (cons: 258m)
- STANDARD CHARTERED 1Q CET1 RATIO 13.6%, EST. 13.9%
- STANCHART: $10M CHARGES ON CHINA COMMERCIAL REAL ESTATE SECTOR
- STANDARD CHARTERED 1Q ADJ PRETAX $2.13B, EST. $1.55B
- STANDARD CHARTERED 1Q PRETAX PROFIT $1.91B, EST. $1.42B
- STANDARD CHARTERED 1Q ADJ. OPER INCOME $5.15B, EST. $4.66B
- Standard Chartered 1Q Net Trading Income $2.49B (cons: 1.49bn)
- STANCHART: MAINTAINING FY 2024 GUIDANCE
- Standard Chartered: 2024 Net Interest Income Expected Between $10.0B and $10.25B >2888.HK (cons: 9.2bn)
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