Financial Performance - Operating income for the basic benchmark was $16.255 billion, representing a 15% increase year-on-year[4]. - Pre-tax profit for the basic benchmark was $16.318 billion, reflecting a 16% year-on-year growth[4]. - Total operating income for the year reached $16.255 billion, with a basic benchmark of $16.318 billion[21]. - The group reported a 15% increase in revenue to $16.3 billion, marking the best performance since 2014[40]. - In 2022, the company achieved a revenue growth of 15% to over $16 billion, the highest since 2014, with approximately half of the growth coming from core business expansion[51]. - The pre-tax profit increased by 15% year-on-year to $4.8 billion, despite challenges in the wealth management sector[51]. - The company reported a 31% increase in pre-tax operating profit to $4.1 billion, primarily due to revenue growth[162]. - Basic operating income rose by 19% to $10.045 billion, benefiting from interest rate increases and strong macro trading activity in financial markets[162]. Shareholder Returns - Total shareholder return increased by 41%, up 43 percentage points[4]. - The total dividend was increased by 50% to $0.18 per share, with a new share buyback plan of $1 billion announced[40]. - The tangible shareholder equity return reached 8%, with a target to increase it to nearly 10% in 2023 and over 11% in 2024[51]. - The company aims to provide at least $5 billion in tangible shareholder returns by the end of 2024[40]. - Over $5 billion will be sustainably distributed to shareholders from 2022 to 2024, compared to $2.8 billion in 2022[92]. Capital and Liquidity - The common equity tier 1 capital ratio reached 14.0%, at the top end of the target range of 13-14%[4]. - The group has a strong liquidity position and robust capital levels, with asset quality remaining high[40]. - The common equity tier 1 capital ratio was 14.0%, positioned at the high end of the target range of 13-14%[47]. - The common equity tier 1 capital ratio reached 14%, at the top end of the group's target range of 13-14%[100]. Sustainability and Social Responsibility - The bank has achieved 85.7% of its sustainability goals, an increase of 2.8 percentage points[4]. - The company facilitated sustainable financing of $23.4 billion in 2022, aiming for $30 billion by 2030[41]. - The company is committed to achieving net-zero financing emissions by 2050, supporting a fair transition[41]. - The company aims to promote $300 billion in sustainable financing by 2030, having already facilitated $48 billion in the past 21 months[58]. - The company is committed to achieving net-zero emissions and enhancing community participation as part of its strategic focus[118]. Market Presence and Customer Base - The bank serves over 10 million personal and small business customers, focusing on affluent and emerging affluent clients in rapidly developing cities[15]. - The Asia region generated $11.213 billion in operating income, contributing the highest revenue, followed by Africa and the Middle East at $2.606 billion[22]. - The group operates in 59 markets and serves clients in an additional 64 markets, focusing on high-growth emerging markets[28]. - Trust Bank in Singapore attracted 450,000 customers within the first five months of its launch[41]. - Mox bank achieved a customer base of over 400,000, doubling year-on-year, with an average of 3.1 products per customer[180]. Strategic Initiatives and Innovation - The company continues to invest in digital and sustainable business capabilities to drive sustainable growth[58]. - The company aims to become a leading digital banking platform by 2025, focusing on four strategic priorities: network business, affluent client business, mass retail banking, and sustainability[118]. - The company has established new digital partnerships in China, India, and Vietnam to enhance banking experiences for small businesses[100]. - The company plans to achieve 50% of its revenue from new business through a three-pronged innovation approach, including digital transformation and establishing new business models[120]. - The company launched Trade Track-It, a digital trade transaction portal, allowing customers to view their global trade transactions end-to-end[148]. Economic Outlook and Challenges - The global GDP growth slowed to approximately 3.4% in 2022, down from 6.0% in 2021, primarily due to rising inflation and tightening monetary policies[66]. - Global growth is expected to weaken to 2.5% in 2023, with the US projected to contract by 0.2% and the UK by 0.5%[68]. - Inflationary pressures and a tight labor market may lead to stagflation becoming a primary concern for central banks in the coming quarters[69]. - The tightening of monetary policy in 2022 is expected to have a delayed impact, with several central banks likely to raise interest rates further[79]. - The US and Eurozone are facing high risks of economic contraction in the first half of 2023, with significant declines in growth anticipated due to high inflation and central bank tightening measures[79].

Financial Performance - Operating income reached $16.255 billion, representing a 15% increase on a basic basis [4] - The return on tangible equity was 8.0%, an increase of 120 basis points on a basic basis [4] - The common equity tier 1 capital ratio stood at 14.0%, at the top end of the target range of 13-14% [4] - Total shareholder return increased by 41%, up 43 percentage points [4] - The company reported a 15% increase in revenue to 16.3 billion, the best performance since 2014, with a pre-tax basic profit also rising by 15% to 4.8 billion [41] - The tangible shareholder equity return increased to 8%, up 120 basis points year-on-year, with a target to exceed 11% by 2024 [41] - The total dividend has been increased by 50% to 18 cents per share, with a new share buyback plan of 1 billion announced [41] - The pre-tax profit increased by 15% to $4.8 billion, demonstrating effective strategy execution and improved shareholder returns, with a tangible equity return of 8% [53] - The company aims to increase tangible equity returns to nearly 10% in 2023 and over 11% in 2024, while also planning to return at least $5 billion in capital to shareholders by the end of 2024 [53] - The company achieved a positive income-to-cost growth differential of 6% in 2022, with a target of approximately 3% for 2023 and 2024 [54] Market Presence and Strategy - The bank serves over 10 million personal and small business customers, focusing on affluent and emerging affluent clients in rapidly developing cities [16] - The company operates in 21 markets in Asia, with Hong Kong and Singapore being the highest revenue contributors [23] - The company operates in 59 markets and provides services to an additional 64 markets [29] - The company aims to connect high-growth emerging markets in Asia, Africa, and the Middle East with developed economies in Europe and the Americas [40] - The company is focused on three strategic positions: accelerating zero emissions, reshaping globalization, and enhancing community engagement, aligning with its long-term business strategy [54] - The company is targeting high-return and high-growth markets to expand its international banking network [135] Sustainable Development and Innovation - The bank achieved 85.7% of its sustainable development goals, an increase of 2.8 percentage points [5] - The company facilitated sustainable financing of $23.4 billion in 2022, aiming for $30 billion by 2030 [42] - The company aims to achieve net-zero financing emissions by 2050, supporting a fair transition without hindering growth in emerging markets [42] - The company is committed to achieving net-zero emissions in operations by 2025 and in financing by 2050, with a roadmap approved by shareholders [60] - The company has implemented a sustainable development director role to enhance its response to climate challenges and opportunities [60] - The company is focused on supporting small and medium enterprises through digital channels and enhancing access to loans in Kenya [81] - The company promotes innovation and investment in disruptive financial technologies, with over 30 venture capital firms, including two cloud-native digital banks [86] Customer Engagement and Digital Banking - Trust Bank, launched in partnership with FairPrice Group in Singapore, attracted 450,000 customers within the first five months [42] - The company launched a digital bank, Trust, in Singapore and expanded its venture capital reporting structure to enhance transparency in technology and innovation investments [94] - Mox, a digital bank, achieved a customer base of over 400,000, doubling year-on-year, with an average of 3.1 products per customer [184] - The customer satisfaction index improved to 48.1% in 2022, up from 43.1% in 2021 [98] - The online application for retail products increased from 38% in 2020 to 48% by the end of 2022 [175] - The company introduced Trade Track-It, a digital trade transaction portal for real-time visibility of global trade transactions [155] Economic Outlook and Challenges - The global GDP growth slowed to approximately 3.4% in 2022, down from 6.0% in 2021, primarily due to rising inflation and tightening monetary policies [68] - Global growth is expected to slow to 2.5% in 2023, with the US projected to contract by 0.2% and the UK by 0.5% [70] - The tightening of fiscal policies in many economies may hinder growth, as public debt remains high and government deficits persist [71] - Emerging markets face long-term growth threats from rising nationalism and protectionism, although digital transformation may provide some offsetting benefits [71] - The economic recovery in Sub-Saharan Africa is expected to be moderate, with inflation pressures from rising food and fuel prices [81] - The U.S. economy faces a high risk of contraction in the first half of 2023, while the Eurozone is projected to experience a sharp decline in annual growth due to high inflation and central bank tightening measures [81] Governance and Corporate Culture - The board has welcomed four new independent non-executive directors in 2022, enhancing diversity and governance [48] - The company emphasizes continuous improvement and innovation as part of its corporate culture [24] - The company is committed to enhancing community engagement and reshaping globalization as part of its strategic focus [1]

Financial Performance - Standard Chartered reported a significant increase in revenue, reaching $8.5 billion for the first half of 2022, representing a 10% year-over-year growth[1]. - The bank's operating profit before tax was $2.5 billion, up 15% compared to the same period last year[1]. - Revenue increased by 10% year-on-year for the first half of 2022, with a quarterly increase of 11% in Q2[2]. - Operating income for the first half of 2022 was HKD 8,200 million, an increase of 8% compared to HKD 7,618 million in the same period of 2021[3]. - Profit before tax increased to HKD 2,772 million, representing an 8% growth compared to HKD 2,559 million in the same period last year[15]. - Basic operating income rose to HKD 48.77 billion, primarily due to macro business revenue growth in financial markets and positive impacts from interest rate hikes on cash management margins[35]. Customer Deposits and Loans - Customer deposits grew by 5% to $200 billion, indicating strong customer confidence and retention[1]. - The bank's loan book expanded by 7%, totaling $150 billion, driven by increased demand in Asia and Africa[1]. - Total customer loans and advances amounted to 298,728 million, a decrease of 1% from 301,066 million in the previous quarter[23]. - Net customer loans and advances stood at 293,508 million, down 1% from 295,785 million in the previous quarter[23]. Cost Management and Efficiency - Standard Chartered's cost-to-income ratio improved to 55%, down from 58% in the previous year, reflecting better operational efficiency[1]. - The cost-to-income ratio improved by 2 percentage points to 72% in personal, private, and SME banking, with total expenses reduced by $98 million[2]. - The cost-to-income ratio for personal, private, and SME banking decreased by 2 percentage points to 72%[7]. - The cost-to-income ratio improved to 64.3% in the first half of 2022, down from 66.8% in the first half of 2021, indicating enhanced operational efficiency[62]. Risk Management - The bank's non-performing loan (NPL) ratio remained stable at 1.5%, indicating effective risk management practices[1]. - Credit impairment charges were $267 million, up $314 million year-on-year, with a quarterly decrease of $133 million in Q2[2]. - The annualized loan loss rate was 15 basis points, lower than the group's mid-term guidance of 30 to 35 basis points[23]. - The third stage coverage ratio increased to 61%, up 3 percentage points from 58% at the end of the previous year[24]. Capital and Shareholder Returns - The bank's capital adequacy ratio stood at 16%, well above regulatory requirements, ensuring a strong financial position[1]. - The common equity tier 1 capital ratio stands at 13.9%, with a new share buyback program of $500 million announced[2]. - The bank plans to return over HKD 5 billion in capital to shareholders over the next three years[4]. - The company plans to return over $5 billion to shareholders over the next three years, having completed $750 million in share buybacks this year[9]. Strategic Initiatives - The bank plans to invest $1 billion in technology and digital transformation over the next three years to enhance customer experience[1]. - Standard Chartered is exploring potential acquisitions in emerging markets to bolster its growth strategy[1]. - The company is investing $50 million in onshore and offshore business capabilities as part of a $300 million three-year investment plan[8]. - The group aims to achieve net-zero emissions by 2050, with a mid-term target set for 2030 in the most carbon-intensive sectors, supported by a funding commitment of $300 billion[64]. Market and Economic Outlook - The group is closely monitoring the impact of geopolitical tensions on its business, including stress testing scenarios related to global trade and economic growth slowdown[75]. - The ongoing Russia-Ukraine war has become a major issue, influencing multiple emerging and localized risks, with potential impacts on global order and geopolitical aggression[74]. - China's economic downturn and zero-COVID policy are expected to negatively impact global supply chains and GDP forecasts for 2022, particularly affecting sectors like real estate and technology[76]. Digital Transformation and Innovation - The company is focusing on digitalization and technology development as key agenda items to adapt to new business developments and asset classes[64]. - The company is enhancing its digital capabilities in personal, private, and SME banking, particularly in account opening, sales, and marketing[79]. - The company has launched the Future Workplace Now (FWN) hybrid working model, covering 68% of the group across 28 markets[80].

Financial Performance - Operating income totaled $14.713 billion, with a basic benchmark of $14.701 billion[17] - Pre-tax profit was $3.896 billion, representing a 55% increase from the basic benchmark of $3.347 billion[12] - The return on tangible equity was 6.0%, an increase of 300 basis points from the previous year[12] - Earnings per share were 76.2 cents, up from 40.1 cents in the previous year[12] - The total shareholder return for 2021 was +32.6%, a significant improvement compared to -34.6% in 2020[59] - The company plans to return over 5 billion to shareholders over the next three years through dividends and share buybacks[55] - A final dividend of 2.77 billion, or 9 cents per share, was proposed, representing a one-third increase compared to 2020[54] - The company reported a 67% increase in pre-tax profit to $644 million, driven by revenue growth and reduced impairment[176] - Profit before tax increased by 108% to 3,347 million, with net profit for the year rising to 2,313 million, compared to 751 million in the previous year[186] Capital and Liquidity - The common equity tier 1 capital ratio stood at 14.1%, exceeding the target range of 13-14%[12] - The company maintained a strong capital position with total assets of $828 billion[111] - The company's common equity tier 1 capital ratio stands at 14.1%, expected to adjust to 13.5% after upcoming regulatory changes[181] - The group maintains high liquidity and capital adequacy, preparing well for the coming year[71] Sustainable Development and Environmental Goals - The company announced a net zero emissions roadmap, aiming to reduce financed emissions and allocate 300 billion for green and climate transition financing by 2030[57] - The company aims to achieve net-zero carbon emissions in its operations by 2025 and in its financing activities by 2050[129] - The company plans to mobilize $300 billion for green and transition financing from 2021 to 2030 to support the transition to net-zero[137] - The company is committed to supporting 500,000 businesses to improve working and environmental standards, promoting fairer economic growth[140] - The company has set a target to reach 82.9% of its sustainable development goals, up from 78.4% in 2020, while reducing its carbon footprint by 27%[128] Customer and Market Engagement - The business serves over 22,000 clients in 49 markets, supporting demand for transaction banking and corporate financing[19] - The personal, private, and SME banking segment serves over 9 million individual and small business clients, focusing on affluent and emerging affluent customers[20] - The group operates in 59 markets and provides services to an additional 83 markets[44] - The group has a strong presence in Sub-Saharan Africa, with the most operating markets among international banking groups[46] - The partnership with Bukalapak aims to provide digital financial services to 17.1 million micro and small enterprises and over 110 million individual users in Indonesia[68] Digital Transformation and Innovation - The company invested in digital transformation, with over 10,000 engineers working on scalable technology solutions[111] - The introduction of the My RM app aims to enhance service for affluent clients in Singapore, doubling the number of relationship managers[97] - The company has established a unique business network connecting emerging high-growth markets with more mature economies[41] - The average time from approval to technology launch has improved to 7.6 weeks from 12.0 weeks in 2020[127] Risk Management and Asset Quality - The overall asset quality is strong, and the company is optimistic about its recovery trajectory[70] - The company emphasizes effective risk management to ensure sustainable business development[107] - The risk-weighted assets for the company were $163 billion, with a reduction in low-return customer risk-weighted assets from 19.5% in 2020 to 17.8% in 2021[143][144] - Total credit impairment decreased to 263 million, down 2 billion from the previous year, reflecting a significant improvement[198] Economic Outlook - The global economic growth is expected to continue, with Asia remaining the fastest-growing region[70] - The Eurozone is expected to rebound by 4.0% in 2022, outperforming the US's anticipated growth of 3.4%[92] - The economic recovery in Hong Kong is forecasted at 2.3% for 2022, bolstered by the normalization of global trade[93] - Emerging markets may face permanent economic output losses due to the pandemic, making it harder to catch up with developed markets[90] Employee and Community Engagement - The company has supported over 300,000 young people through the Futuremakers program, enhancing their education and employment capabilities[62] - The company continues to invest in employee skills and innovation, with 73% of employees in 28 markets signing hybrid work contracts in 2021[130] - The board is committed to maintaining a strong governance culture, focusing on sustainability and the company's net zero emissions goals[61]

Financial Performance - Standard Chartered reported a significant increase in half-year profits, with a net profit of $1.5 billion, representing a 25% year-on-year growth[1]. - The bank's total income rose to $8.5 billion, up 10% compared to the previous year, driven by strong performance in its corporate and institutional banking segments[1]. - The group's pre-tax profit increased by 37% year-on-year to 2.7 billion, benefiting from improved loan impairment conditions and strong core business momentum[5]. - The tangible shareholder equity return rose by 330 basis points to 9.3%[5]. - Profit attributable to ordinary shareholders rose by 60% to HKD 1,826 million from HKD 1,138 million year-on-year[6]. - The profit attributable to the period was HKD 1,928 million, an increase of 81% compared to HKD 1,066 million in the previous year[13]. - The group reported a pre-tax profit of £2,559 million for the first half of 2021, compared to £1,627 million in the same period of 2020[32]. - The profit before tax increased by 42% to 1.821 billion, primarily due to a reduction in credit impairment, partially offset by decreased income and increased expenses[35]. Customer Deposits and Loans - Customer deposits increased by 15% to $100 billion, reflecting strong client confidence and market expansion efforts[1]. - The bank's loan book grew by 8% to $200 billion, with a focus on sustainable financing and green initiatives[1]. - Total customer loans and advances reached 303,982 million, a 2% increase compared to 298,297 million in the same period last year[23]. - Customer loans and advances increased by 6% to 298 billion, benefiting from double-digit growth in trade and single-digit growth in corporate lending since December 31, 2020[27]. - The loan-to-deposit ratio rose from 61.1% on December 31, 2020, to 64.0%, while the liquidity coverage ratio increased from 143% to 146%[27]. Operational Efficiency - The bank's cost-to-income ratio improved to 55%, down from 58% in the previous year, indicating enhanced operational efficiency[1]. - The cost-to-income ratio rose by 7 percentage points to 67%, reflecting the impact of lower interest rates and increased expenses[14]. - The cost-to-income ratio for corporate, commercial, and institutional banking was 60.2%, while for personal, private, and SME banking it was 70.7%[32]. - The cost-to-income ratio increased to 60.2%, up from 51.2%, indicating rising operational costs[34]. Credit Impairment and Risk Management - The bank's risk management framework remains robust, with a non-performing loan ratio of 1.5%, indicating strong asset quality[1]. - Credit impairment net reversal was 470 million, down 1.6 billion year-on-year[5]. - The total credit impairment charge was $(51) million for the first half of 2021, significantly reduced from $1,576 million in the same period of 2020[72]. - The credit impairment for corporate, commercial, and institutional banking was $(136) million for the first half of 2021, compared to $1,115 million in the same period of 2020[72]. - The expected credit loss provisions were (5,979) million, a 4% decrease from (6,213) million in the previous year[23]. Strategic Initiatives and Investments - Standard Chartered plans to invest $500 million in technology and digital transformation over the next three years to enhance customer experience and operational capabilities[1]. - The bank is exploring strategic acquisitions in emerging markets to bolster its market presence and service offerings[1]. - New product launches in wealth management and digital banking are anticipated to drive further customer engagement and revenue growth[1]. - The group aims to achieve net zero emissions by 2050 or earlier, focusing on reducing carbon emissions in emerging markets without hindering development[11]. Regional Performance - Profit from the Africa and Middle East region grew over fivefold to HKD 475 million, marking the best half-year performance in five years[19]. - Revenue from Asia decreased by 1%, but profit increased by 41% due to lower credit impairment[19]. - Operating income in Africa and the Middle East remained stable at 1.250 billion, with a 1% increase on a constant currency basis, offsetting the impact of interest rate reductions[43]. Digital Transformation and Customer Engagement - Digital sales transactions in retail banking reached 71%, with customer usage of digital services accelerating to 62%, up 6 percentage points[5]. - The bank's digital services were launched in 46 markets, with digital transactions increasing by 7 percentage points to 48%[10]. - The Mox virtual bank in Hong Kong has attracted a significant number of young new customers, with continuous growth in balances[10]. Sustainability and Community Engagement - The group plans to positively impact the lives of 1 billion people through enhanced community engagement and support for women and micro-enterprises[11]. - The group is committed to supporting clients' carbon reduction efforts by developing transition frameworks and sustainable financing solutions[66]. - The group aims to become a leader in sustainable and responsible banking, expanding its reputation risk categories to include environmental, social, and governance (ESG) risks[68].

Financial Performance - The group achieved a return on tangible equity of 3.0%, which is an increase of 340 basis points compared to the previous benchmark [8]. - Operating income reached $14.76 billion, reflecting a 3% increase based on the basic benchmark [8]. - The common equity tier 1 capital ratio stood at 14.4%, exceeding the target range of 13-14% [8]. - The total shareholder return for 2020 was negative 34.6%, reflecting a decrease in profit forecasts and the cancellation of dividend payments due to regulatory requirements during the COVID-19 challenges [48]. - The company recorded quarterly revenue growth between 4% to 8% from the end of 2018 to mid-2020, despite the impact of COVID-19, with positive revenue and cost growth each quarter [53]. - The company reported a pre-tax profit of 18.41 billion, with a tangible equity return of 6.6% [103]. - Basic operating income decreased by 3% to 14,765 million in 2020 [150]. - Pre-tax profit decreased by 40% to 2,508 million, reflecting significant impacts from restructuring and goodwill impairment [149]. COVID-19 Response - The group provided $1 billion in financing at cost price to support businesses supplying anti-epidemic products and services during the COVID-19 pandemic [5]. - A global charity fund of $50 million was established to provide emergency support and long-term assistance to the most affected communities [5]. - The company provided $1 billion in credit support to customers for producing goods and services to combat the pandemic [188]. - The charity fund has provided support to communities in Malaysia, Zambia, and the UK during the pandemic [40]. - The company launched a $50 million global fund to assist individuals affected by the COVID-19 pandemic, with an immediate donation of $25 million [188]. - The company has implemented multiple comprehensive support plans for retail and corporate clients, including temporary loan repayment and interest waivers, to address the impacts of the COVID-19 pandemic [176]. Strategic Initiatives - The group is focused on sustainable finance and has set 11 sustainable development goals to align with the United Nations' objectives [7]. - The company plans to invest $1.6 billion in regulatory, strategic, network, and system enhancements in 2020, maintaining a focus on expanding its capabilities and influence [54]. - The company aims to gradually increase the annual dividend per share as it executes its strategy towards a 10% tangible equity return target [46]. - The company aims to achieve a 10% return on tangible equity, supported by its updated strategic focus [190]. - The company plans to focus on high-return and high-growth markets, aiming to lead in emerging market corporate banking [92]. Digital Transformation - The active usage rate of digital services among retail banking customers increased to 104% in 2020, up from 52% in 2019 and 2% in 2018 [54]. - The company launched its virtual bank Mox in Hong Kong and is preparing to introduce a "banking-as-a-service" model in Indonesia [57]. - Digital account opening rate rose to 80%, up from approximately 30% in 2019, while digital service usage increased to 70% from 25% [90]. - The company aims to achieve a 95% digital platform transition for customers by 2023 [90]. - The company launched a new virtual bank, Mox, which had 66,000 customers and recorded deposits of HKD 5.2 billion by the end of 2020 [90]. Market Presence - The group operates in 59 markets globally and provides services to clients in an additional 85 markets, being the only international bank with a presence in all ten ASEAN countries [26]. - The Greater China and North Asia region contributed 41% of the group's revenue in 2020, making it the largest market, serving clients in Hong Kong, mainland China, Japan, South Korea, Macau, and Taiwan [28]. - The company has been active in all ten ASEAN countries and has a strong presence in major South Asian markets, positioning itself as a preferred banking partner [26]. - The company has been operating in Africa and the Middle East for over 160 years, with a significant presence in 25 markets, including the UAE, Nigeria, and Kenya [15]. Governance and Compliance - The board welcomed new independent non-executive director Maria Ramos, enhancing its governance and expertise in the financial services sector [49]. - The company has improved its governance across various business areas, particularly in compliance with local regulatory requirements [169]. - The company has established measures to control operational risks, ensuring that operational losses do not significantly harm its business [175]. - The company has implemented enhanced third-party risk management measures following an internal review completed in Q4 2020 [177]. Sustainability and ESG - The company aims to achieve net-zero carbon emissions by 2050, integrating sustainable finance into its core value proposition [101]. - The company is committed to being a sustainable, innovative, and customer-centric bank while supporting clients in the transition to a low-carbon economy [168]. - The company has made significant contributions to local communities through its COVID-19 charity fund, raising millions from global colleagues [43]. - The company is focused on sustainable finance solutions and has integrated environmental, social, and governance risk management into its reputation risk framework [168]. Employee Engagement and Culture - The net promoter score for employees reached +17.5, an increase of 6 percentage points compared to +11.5 in 2019 [86]. - Employee engagement survey participation was 91% among 74,566 employees and 71% among 3,599 agency workers [200]. - The percentage of women in senior positions is currently 29.5%, with a mid-term target of 30% by December 2025 [196]. - The company aims to raise its "Cultural Inclusion" score to 84.5% by December 2024, with a current score of 84.5% [195].

Financial Performance - The group reported a 5% increase in the cost-to-income ratio, rising to 59% (excluding debt value adjustments) [8] - Overall operating profit from the four major markets increased by 7% [8] - Revenue increased by 5% to 80 billion, with a 7% increase on a constant currency basis [9] - Expenses decreased by 5% to 47 billion, with a 2% decrease on a constant currency basis [9] - Earnings per share decreased by 13.2 cents or 27% to 35.9 cents [9] - The outlook for the second half of 2020 indicates potential revenue decline due to economic volatility [10] - The company reported a significant improvement in pre-provision operating profit due to strategic focus, product and regional diversification, and strict cost control, despite a decline in basic profit due to increased provisions for potential loan losses caused by the pandemic [13] - The company reported a 7% increase in overall operating profit despite the challenging environment caused by the COVID-19 pandemic and declining oil prices [18] - Profit before tax decreased by 25% to HKD 1,955 million, impacted by increased restructuring and regulatory provisions [24] - The total pre-tax profit for the first half of 2020 was 1,627 million, a decrease from 1,955 million in the first half of 2019, representing a decline of about 16.7% [68] Credit Impairment and Risk Management - Despite a significant increase in impairment charges, the group still recorded a profit [7] - Credit impairment increased significantly year-on-year, with first and second stage impairments rising by 586 million to 668 million [9] - The total credit impairment charge for the first half of 2020 was HKD 15.67 billion, a significant increase from HKD 2.54 billion in the same period of 2019 [80] - The third stage credit impairment increased by HKD 7.27 billion, with three-quarters of this related to corporate and institutional banking [80] - The expected credit loss provisions were (6.513) billion, an increase of 5% compared to the previous quarter [30] - The credit quality of the portfolio is under pressure, with expectations of further deterioration in the short-term macroeconomic outlook [31] - The total amount of Stage 3 customer loans and advances reached 8.8 billion, a 19% increase from December 31, 2019, primarily due to inflows in corporate and institutional banking [31] - The total credit impairment for Stage 1 was not significant, indicating a stable outlook for the company's credit risk management [104] Capital and Liquidity - The group maintained a strong capital position with one of the highest common equity tier 1 capital ratios in years [7] - The common equity tier 1 capital ratio increased by 90 basis points to 14.3% [9] - The liquidity coverage ratio improved to 149%, indicating strong liquidity management [23] - The group's common equity tier 1 capital ratio increased to 14.3%, exceeding the interim target range [23] - The group’s common equity tier 1 capital ratio increased by 50 basis points to 14.3%, primarily due to profits and restrictions on distributions [82] - The liquidity coverage ratio rose to 149%, up from 144% in 2019, reflecting a decrease in net outflows [82] Customer Engagement and Digital Transformation - Digital customer engagement improved by 12 percentage points to 36%, with a virtual bank in Hong Kong set to launch soon [8] - The digital channels have been significantly optimized, allowing the company to maintain client connections during social distancing measures [18] - The group is focusing on enhancing its digital capabilities in retail banking, particularly in customer acquisition, sales, and marketing, in response to changing customer expectations due to the pandemic [90] Community Support and Sustainable Finance - The group has introduced stimulus measures aimed at sustainable recovery, reinforcing its leadership in sustainable finance [8] - The company has issued nearly 300,000 applications for loan repayment deferrals and support plans, with an approval rate of nearly 98% for voluntary plans, demonstrating commitment to assist vulnerable customer groups [14] - A financing plan of $1 billion has been launched to support businesses supplying critical pandemic-related products, with nearly half of the funding already allocated to clients across Asia, Africa, and the Middle East [14] - The company has committed to a financing pledge of $75 billion for sustainable infrastructure, renewable energy, and clean technology projects, aiming for net-zero emissions by 2030 [20] - The group aims to provide $75 billion in financing for sustainable infrastructure, renewable energy, and clean technology projects by 2024, supporting the transition to a low-carbon economy [89] Operational Efficiency and Cost Management - The company remains focused on managing expenses carefully to maintain key long-term investment projects and continue transformation to seize future opportunities [13] - The cost-to-income ratio worsened due to a decrease in income and increased impairment charges [27] - The company is focusing on enhancing productivity and has accelerated projects aimed at making the organization more streamlined and flexible [18] - The group aims to keep 2020 expenditures below $10 billion, with new sustainable efficiency measures implemented to control 2021 spending as well [39] Market Challenges and Economic Outlook - The group anticipates ongoing challenges from the COVID-19 pandemic in the coming quarters [7] - The company acknowledges the ongoing uncertainty regarding the pandemic's impact on future financial performance and is focused on controllable factors [13] - The group expects continued challenges in the market but remains focused on cost management and operational efficiency improvements [50] - The ongoing geopolitical tensions, particularly between the US and China, have led to increased risks, with a significant slowdown in global trade and economic growth [89]

Financial Performance - Operating income reached 15.271 billion, representing a 2% increase year-over-year[9] - Profit before tax was 4.172 billion, reflecting an 8% growth compared to the previous year[9] - Basic earnings per share increased to 75.7 cents, up by 14.3 cents[9] - The tangible equity return for the group reached 20.2% in 2019, an improvement from a negative 20.6% in 2018[24] - The pre-tax operating profit increased by 12% to HKD 23.18 billion, driven by revenue growth and prudent cost management[71] - Basic operating income increased to HKD 15,271 million, up 2% from HKD 14,968 million in 2018[107] - Pre-tax profit increased by 8% to HKD 4,172 million, compared to HKD 3,857 million in 2018[110] - Corporate and institutional banking profit rose by 12% to HKD 2,318 million, contributing significantly to overall pre-tax profit[110] Capital and Shareholder Returns - The common equity tier 1 capital ratio stood at 13.8%, with a 39 basis point increase, within the target range of 13%-14%[8] - Total shareholder return was 20.2%, with a detailed review available on page 7[8] - The board declared a final ordinary dividend of 20 cents per share, bringing the total dividend for 2019 to 863 million or 27 cents per share, an increase of 29% compared to 2018[30] - The company utilized 1 billion in surplus capital for share buybacks and announced an additional buyback of up to 500 million in ordinary shares due to a strong capital ratio returning to the target range of 13%-14%[30] Sustainable Development and Corporate Responsibility - The company achieved 93.1% of its sustainable development goals, marking a 2% improvement[8] - The company is focused on integrating sustainable finance across its business areas to support community inclusivity[5] - The group is committed to adapting to external changes, including geopolitical and social transformations, which have become the new normal[24] - The company aims to achieve net-zero emissions and exclusively use renewable energy by 2030, with a target to facilitate 35 billion in renewable energy projects from 2020 to 2024[34] - The "Futuremakers by Standard Chartered" program was launched to address inequality in the market, focusing on education, employment, and entrepreneurship for youth, especially girls and women[61] Market Presence and Regional Performance - The company operates in four regions and serves four customer categories, supported by nine global functional departments[10] - The Greater China and North Asia region contributed 40% of the group's total revenue in 2019[16] - Operating income in the ASEAN and South Asia region was significant, with Singapore and India being the largest markets[11] - The bank has a presence in 59 markets globally, with operations in all ten ASEAN countries[15] - Operating income in Africa and the Middle East reached 25.62 billion, with the UAE, Nigeria, and Kenya being key markets[11] Digital Transformation and Innovation - The company has been recognized as the world's best consumer digital bank by Global Finance Awards, reflecting its progress in digitalization and innovation[33] - The percentage of retail banking customers actively using digital services increased to 54% in 2019, up from 49% in 2018 and 45% in 2017[35] - The company is focusing on improving returns in four major markets, with encouraging progress in overall operating profit[33] - The company aims to enhance sustainable finance offerings to support products and services with positive social and environmental impacts[70] Risk Management and Governance - The group has reformed its risk management framework to address non-financial risk factors, enhancing its capital and liquidity strength[22] - The group has established a strong governance level, as indicated by an external review of the board's effectiveness[23] - Effective risk management is highlighted as essential for sustainable business development, combining global expertise with local insights[43] - The company aims to maintain the highest standards of integrity in combating financial crime as part of its sustainable business model[42] Employee Engagement and Diversity - Employee engagement score improved, with 71,000 employees (91%) participating in the annual survey, showing overall job satisfaction increased[159] - The gender ratio in senior positions has reached 30% female representation, reflecting progress in diversity initiatives[159] - The company aims to raise the percentage of women in senior positions to 35% by 2024 as part of its sustainability goals[167] - Over 80% of employee leaders completed the Inclusive Leadership Program aimed at fostering skills to eliminate unconscious bias[165] Economic Outlook and Challenges - Global economic growth is estimated to slow to 3.0% in 2019, down from 3.8% in 2018, with the US economy showing resilience supported by a strong labor market[39] - The company anticipates global growth to stabilize around 3% in 2020, with a projected economic growth of 5.5% in China, impacted by the COVID-19 outbreak[39] - The company expects that the ongoing global economic recovery is cyclical and remains fragile, with structural challenges persisting[39] - The company highlights that emerging markets are becoming increasingly important drivers of global growth, despite rising nationalism and protectionism posing threats to long-term growth prospects[39]

Financial Performance - Operating income for the six months ended June 30, 2019, was $7,696 million, an increase from $7,649 million for the same period in 2018[9]. - Profit before tax increased to $2,609 million compared to $2,356 million in the previous year[9]. - Basic earnings per share for the period were 49.1 cents, compared to 44.9 cents in the same period last year[9]. - The group reported a revenue of 76.96 billion with a basic benchmark of 30.80 billion, reflecting a 4% growth in revenue year-on-year at constant exchange rates[19]. - Basic profit increased by 13% compared to the previous year, indicating strong financial performance despite geopolitical uncertainties[19]. - Corporate and institutional banking revenue was $2.4 billion, representing a 9% year-on-year increase from $2.2 billion[39]. - Wealth management revenue was $1.8 billion, reflecting a 5% year-on-year growth from $1.7 billion[40]. - Pre-tax profit in key markets (India, Indonesia, South Korea, UAE) was $380 million, up 14% year-on-year from $333 million[40]. - The group's pre-tax profit increased by 11% to HKD 2.6 billion, with a fixed exchange rate increase of 13%[49]. - Operating income rose by 1% to HKD 7.7 billion, with a fixed exchange rate increase of 4%[49]. Asset and Capital Management - Total assets as of June 30, 2019, were $712,504 million, compared to $694,874 million a year earlier[9]. - The common equity tier 1 capital ratio was 13.5%, down from 14.2% in the previous year[9]. - The capital position remains robust, with a common equity tier 1 capital ratio between 13% and 14%, after accounting for a 39 basis points reduction from a $1 billion share buyback plan[14]. - Total risk-weighted assets stood at HKD 70 billion, with a 13% increase since December 2018[42]. - Risk-weighted assets improved to 320 billion, a 4% increase since December 2018[44]. - The common equity tier 1 capital ratio stood at 13.5%, within the target range of 13% to 14%[67]. - The liquidity coverage ratio decreased to 139% from 154% at the end of 2018[81]. - The liquidity coverage ratio is 139%, down from 154% in the previous year, reflecting a 15% decrease due to changes in cash flow and liabilities[161]. Credit Quality and Impairment - Credit impairment charges were $254 million, down from $293 million in the same period last year[9]. - The total credit impairment for the first half of 2019 was 254 million, a decrease of 13% compared to 293 million in the first half of 2018[123]. - The total credit impairment for the second stage as of June 30, 2019, was (21.201) billion, indicating a potential risk in this category[119]. - The total credit impaired loans amounted to 6,218 million, with corporate and institutional banking contributing 3,541 million[133]. - The average customer loan loss rate was 17 basis points, reflecting an improvement in credit quality over the past three years[79]. - The total amount of credit impairment (Stage 3) loans decreased to 6.2 billion from 6.9 billion at the end of 2018[128]. - Retail banking credit impairment charges increased by 29% to 154 million in the first half of 2019, up from 119 million in the first half of 2018[123]. - The total amount of impaired loans in the retail banking segment was 827 million HKD, with a coverage ratio of 47%[130]. Customer Loans and Deposits - Customer loans and advances reached $263,595 million, an increase from $259,331 million in the previous year[9]. - Customer deposits grew to $401,597 million, up from $382,107 million year-over-year[9]. - The total amount of loans with repayment deferral measures amounted to 1,260 million HKD as of June 30, 2019, down from 1,412 million HKD at the end of 2018[127]. - The total customer loans and advances amounted to 260,246 million, an increase from 250,922 million at the end of the previous year[164]. - The total customer deposits reached 408,487 million, up from 397,764 million at the end of the previous year[164]. Strategic Initiatives and Investments - The group aims to enhance tangible shareholder returns to over 10% by 2021, with good progress reported in the first year of the strategic plan[18]. - The company is focusing on optimizing existing advantages and developing new customer solutions, particularly in digital services, to seize market opportunities[13]. - The company plans to establish a foreign exchange electronic trading and pricing platform by early next year, facilitating transactions in 130 currencies and over 5,000 currency pairs[26]. - The company is actively investing in high-return affluent clients and wealth-related businesses to drive long-term revenue growth[22]. - The company has made significant progress in restructuring its corporate framework to enhance capital and liquidity management[26]. - The company is committed to integrating sustainability into decision-making processes and addressing significant challenges in environmental protection[15]. - The company is focusing on sustainable development and increasing financing for clients aligned with the United Nations Sustainable Development Goals[73]. Market and Economic Conditions - Geopolitical events, particularly the deterioration of US-China relations, have increased concerns regarding trade tensions and their impact on the group's operations[86]. - The macroeconomic conditions, especially the slowdown in growth in key markets led by China, have maintained risk levels similar to those at the end of 2018[86]. - The expected average GDP growth rate for China over the next five years has been slightly adjusted down from 6% to approximately 5.9%[146]. - The average five-year oil price forecast has been slightly reduced from $85 to $84 due to a slowdown in global economic expansion[146]. - The projected economic activity levels for the next five years show relatively minor changes compared to the end of last year, indicating a stable outlook despite external demand weaknesses[146]. Risk Management - The group adopts a zero-tolerance approach towards non-compliance with laws and regulations, recognizing that while non-compliance cannot be entirely avoided, efforts are made to minimize it[84]. - The group actively monitors economic trends and manages interest rate risk exposures within a clearly defined risk management framework[86]. - The company has implemented a new policy and document management system to strengthen regulatory, risk, and compliance solutions[77]. - The company continues to invest in infrastructure improvements, including risk exposure management and data quality[78]. - The company is enhancing its capabilities to ensure it remains aligned with technological trends and can quickly seize opportunities[87].

Financial Performance - The group achieved a total operating income of $14.968 billion, with corporate and institutional banking contributing $6.860 billion and retail banking contributing $5.041 billion[15]. - The Greater China and North Asia region generated an operating income of $6.157 billion, making it the largest revenue contributor for the group[18]. - The Africa and Middle East region reported an operating income of $2.604 billion, with the highest revenue markets being the UAE, Nigeria, and Kenya[18]. - Operating income for ASEAN and South Asia region reached 39.71 billion with a basic benchmark and 39.92 billion under statutory benchmark[20]. - Operating income for Europe and Americas region was 16.70 billion under basic benchmark and 16.79 billion under statutory benchmark[20]. - The board declared a final ordinary dividend of 15 cents per share, bringing the total dividend for the year to 21 cents, approximately doubling the previous year's dividend[24]. - The company reported a significant reduction in credit impairments and a substantial increase in basic profit, indicating improved business performance[24]. - The company aims to achieve double-digit returns on tangible shareholder equity by 2021 or earlier[39]. - The return on equity increased from 3.9% to 6.8%, while the tangible return on equity rose from 4.4% to 7.4%[77]. - The pre-tax profit for corporate and institutional banking was $2.072 billion, an increase of 64% year-on-year, driven by revenue growth and reduced credit impairments[74]. - Basic income for corporate and institutional banking reached $6.860 billion, up 6% year-on-year, primarily due to increased cash management and financial market income[77]. - The group's operating income increased by 5% to 14.97 billion, meeting mid-term targets, with all customer categories contributing to revenue growth[115]. Strategic Focus - The group is focused on enhancing profitability, balance sheet quality, and financial returns as part of its strategic plan initiated in 2015[9]. - The group emphasizes a commitment to sustainable economic and social development in the regions it operates, particularly in emerging markets[17]. - The company is focusing on enhancing financial returns over the next three years while navigating geopolitical uncertainties and global economic slowdowns[25]. - The company is prioritizing digital transformation and customer-centric value propositions to remain competitive against fintech and large tech firms[25]. - The company aims to enhance high-return income and efficiency in key markets such as India, South Korea, UAE, and Indonesia[42]. - The company is committed to sustainable financing, aiming to expand its sustainable financing business to create positive social, environmental, and economic impacts[43]. - The company aims to achieve a revenue increase of 5-7%, significantly higher than global economic growth forecasts, while maintaining strict cost control to achieve high operational leverage[43]. - The company is focused on balancing environmental, social, and economic needs while addressing stakeholder expectations in its operations[29]. Digital Transformation - The company is investing in blockchain-based real-time cross-border payment services and plans to introduce more projects[42]. - The company successfully launched its first digital retail bank in Côte d'Ivoire and plans to expand to Kenya and other African markets in 2019[42]. - The company has launched a comprehensive digital bank in Côte d'Ivoire and is applying for a virtual banking license in Hong Kong to enhance customer experience[72]. - Digital banking services saw an increase in active users, with 49% of clients using online or mobile banking services compared to 45% in 2017[86]. - The company is actively developing digital services and has applied for a virtual banking license in Hong Kong[106]. - Significant investments are being made in digital capabilities to provide personalized services and improve customer engagement, with a focus on data and analytics[71]. Risk Management and Compliance - The company has made significant progress in addressing past financial crime compliance issues, receiving recognition from the New York State Department of Financial Services[43]. - The company is enhancing its operational risk management and workflow processes to provide better services to customers[139]. - The company is committed to modernizing its approach to combating financial crime through public-private partnerships in the UK, US, Singapore, and Hong Kong[139]. - The company has elevated information and cybersecurity risks to a major risk category, implementing a new framework to ensure consistent management of network risks[139]. - The company is focusing on enhancing compliance infrastructure, with a multi-year plan to review and strengthen existing frameworks and procedures[139]. - The company is collaborating with fintech partners to explore new opportunities in machine learning, artificial intelligence, and data analytics[139]. Sustainability Initiatives - The company is committed to promoting sustainable economic and social development in the communities where it operates[23]. - The company launched a new public stance statement to stop financing new coal-fired power plants globally, reflecting a commitment to environmental sustainability[29]. - The company aims to reduce its carbon footprint by 36% to 121,000 tons by 2025, 55% to 84,000 tons by 2030, and 90% to 18,000 tons by 2050, based on 2017 levels of 187,936 tons[190]. - The company has established a target to provide $4 billion in funding for clean energy technologies by 2020, achieving this goal two years ahead of schedule[147]. - The company is focused on integrating sustainable finance into its decision-making processes and developing new financial products with positive social and economic impacts[177]. - The company is actively investing in community programs to promote economic and social sustainability, addressing inequalities in the market[43]. Employee Engagement and Diversity - The company employs 85,000 employees, with 46% being women, emphasizing diversity in its workforce[57]. - In 2018, over 73,000 employees (90%) participated in the annual employee engagement survey, with a participation rate of 67%[156]. - The percentage of women in senior leadership positions rose to 27.7% by the end of 2018, up from 25.7% in 2017, moving closer to the goal of 30% by 2020[171]. - The employee net promoter score increased from 5.9 in the second half of 2017 to 11.3 in the second half of 2018, indicating a better work environment[164]. - The company provided over 10,000 days of leadership and management training in 2018, with an average of three days of formal training per employee[162]. - The company was recognized as one of the best performers in gender equality in the UK by Equileap, ranking 26th globally in 2018[171]. Market Outlook - The global economic growth is expected to slow down to 3.6% in 2019, with Asia projected to grow at a strong rate of 6.1%[50]. - Concerns over trade tensions and rising oil prices may impact India's economic outlook, despite strong consumer spending supporting growth[50]. - The economic growth in the Middle East and North Africa is forecasted to slow to 2.5% in 2019, influenced by external risks and regional economic activity[53]. - The U.S. economy is expected to maintain strong momentum, supported by a robust labor market and consumer spending, although it faces vulnerabilities due to global economic conditions[53]. - China may experience a loss of economic momentum in the coming months due to escalating trade tensions and a slowdown in the real estate market[54].