Standard Chartered is on track for forecasts

The London-listed bank that derives most of its profit from Asia stated it is ‘comfortable’ with its full-year estimates.

Yesterday, Standard Chartered announced that it is likely to meet its full-year operating profit forecast of $8 billion for 2013. This compares with last year’s figure of $6.88 billion. The bank is focused on emerging markets, with approximately three quarters of it earnings coming from its operations in Asia. Standard Chartered has two strings to its bow: firstly, it did not overextend itself on the run up to the global downturn, and secondly it has a market share in a region that is performing well.

Recently the People’s Bank of China provided liquidity to the overnight lending market, which boosted confidence in the region. This demonstrates that Beijing is willing to intervene to protect the economy if necessary.

Standard Chartered’s finance director, Richard Meddings, who was rumoured to be in line to replace Stephen Hester as the chief executive officer of Royal Bank of Scotland (RBS), has stated he is ‘very happy at Standard Chartered’. This indicates that he sees good growth prospects for the bank. 

Standard Chartered plc chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.