Standard Chartered PLC - Highlights
For the year ended 31 December 2013
Reported results
Profit before tax of $6,958 million in 2013 down 7 per cent from $7,518 million in 2012
Statutory profit before taxation was $6,064 million down 11 per cent. Statutory profit attributable to ordinary shareholders was $3,989 million
Operating income excluding OCA was down 1 per cent to $18,671 million (2012: $18,783 million)
Customer advances increased 4 per cent to $296 billion from $285 billion in 2012 and customer deposits increased 2 per cent to $391 billion from $385 billion in 2012
Performance metrics
Dividend per share increased 2 per cent to 86.0 cents per share
Normalised earnings per share declined 9 per cent at 204.0 cents from 225.2 cents in 2012
Normalised return on ordinary shareholders' equity of 11.2 per cent (2012: 12.8 per cent)
Capital and liquidity metrics
Tangible net asset value per share increased 5 per cent to 1,597.6 cents (2012: 1,526.5 cents)
Core Tier 1 capital ratio of 11.8 per cent (2012: 11.7 per cent)
Total capital ratio of 18.0 per cent (2012: 17.4 per cent)
Advances-to-deposits ratio of 75.7 per cent (2012: 73.9 per cent)
Liquid asset ratio of 29.8 per cent (2012: 30.5 per cent)
Significant highlights
Broad based performance across multiple markets, with operating income of over $100 million in 25 markets
Hong Kong, our largest market grew income 11 per cent and operating profit 16 per cent
Strong increases in customer volumes in Transaction Banking, Financial Markets, and Corporate Finance partially offset margin and spread compression
The Group was the No. 2 global underwriter of offshore yuan bonds in 2013 and partnered Agricultural Bank of China to provide RMB clearing services in London
Subsidiarised our retail operations in Singapore and acquired a custody business in South Africa
The balance sheet continues to be highly liquid, well diversified and strongly capitalised with a Basel III end point common equity tier one ratio of 11.2 per cent.
Commenting on these results, the Chairman of Standard Chartered PLC, Sir John Peace, said:
"2013 was a challenging year, for the industry and for Standard Chartered, but the bank remains an exciting growth story. We are focused on driving profitable growth, delivering further value for shareholders. The Group has an excellent balance sheet, remains well capitalised and continues to support our clients as they seek to invest and expand across Asia, Africa and the Middle East".
