Core Viewpoint - UBS reports that Standard Chartered Group's (02888) operating profit before provisions in Q4 last year was 11% or $182 million below expectations, despite net interest income exceeding expectations by 8% [1] Group 1: Financial Performance - The bank has cautioned investors not to view this outperformance as a norm [1] - The shortfall in pre-provision profit was approximately two-thirds due to one-off items in operating expenses, while one-third stemmed from inventory losses in trading, both of which will not affect future earnings per share forecasts [1] Group 2: Earnings Forecast - UBS has raised its earnings per share forecast for Standard Chartered by 5% to 6%, primarily driven by higher income [1] - Net interest income benefited from an increase in net interest margin and deposit growth, while non-interest income was supported by wealth management business [1] Group 3: Asset Management Growth - Data shows that Standard Chartered's asset management scale and wealth-related deposits grew by 25% and 18% respectively last year, with strong growth expected to continue [1] - UBS predicts that Standard Chartered's earnings per share will grow at an annual rate of 13% until the fiscal year 2028, as the business mix shifts towards wealth management [1] Group 4: Valuation and Target Price - UBS has reiterated a "Buy" recommendation for Standard Chartered, raising the target price from HKD 225.1 to HKD 229.2, based on a comprehensive valuation approach [1] - The bank believes that the stock price has yet to reflect Standard Chartered's transformation into a bank with growth premium and high returns [1]

Core Viewpoint - UBS reported that Standard Chartered Group's operating profit before provisions in Q4 last year was 11% or $182 million lower than expected, despite net interest income exceeding expectations by 8% [1] Group 1: Financial Performance - The bank cautioned investors not to view the better-than-expected performance as a norm [1] - The shortfall in pre-provision profit was primarily due to one-time operational expenses accounting for about two-thirds, while one-third was attributed to inventory losses in trading [1] - UBS raised its earnings per share forecast for Standard Chartered by 5% to 6%, driven mainly by higher income [1] Group 2: Revenue Drivers - Net interest income benefited from an increase in net interest margin and deposit growth, while non-interest income was supported by wealth management business [1] - Standard Chartered's asset management scale and wealth-related deposits grew by 25% and 18% respectively last year, indicating strong growth momentum [1] Group 3: Future Outlook - UBS predicts that Standard Chartered's earnings per share will grow at an annual rate of 13% until the fiscal year 2028 [1] - The bank's shift towards wealth management is expected to enhance its growth premium and high returns, which UBS believes is not yet reflected in the stock price [1]

Core Viewpoint - Standard Chartered Group's stock has declined nearly 5%, attributed to increased market risk aversion due to escalating military conflicts in the Middle East, which may lead to a more significant pullback for the bank [1] Group 1: Market Reaction - Standard Chartered's shares fell by 4.89%, trading at HKD 188.8, with a transaction volume of HKD 158 million [1] Group 2: Research Insights - A report from JPMorgan indicates that Standard Chartered has a high regional exposure, particularly in the UAE, where revenue is expected to account for 5.6% by 2025 [1] - As of Q2 2025, approximately 73% of Standard Chartered's loan exposure in the UAE is directed towards government, public institutions, or banks, suggesting that overall credit risk is manageable [1] Group 3: Earnings Performance - UBS reported that Standard Chartered's operating profit before provisions for Q4 2025 was 11% or USD 182 million below expectations, despite net interest income exceeding forecasts by 8% [1] - The bank cautioned investors against interpreting this better-than-expected performance as a norm, as the shortfall in pre-provision profit was largely due to one-time operational expenses and inventory losses in trading, which do not impact future earnings per share projections [1]

Group 1 - Standard Chartered Group (02888.HK) experienced a decline of nearly 5%, with a current drop of 4.89%, trading at 188.8 HKD [2] - The trading volume reached 158 million HKD [2]

Group 1 - Standard Chartered Group's stock price fell nearly 5%, currently down 4.89% at HKD 188.8, with a trading volume of HKD 158 million [1] - A report from JPMorgan indicates that escalating military conflicts in the Middle East are increasing market risk aversion, predicting a larger decline for Standard Chartered due to its high regional exposure [1] - UBS reported that Standard Chartered's operating profit before provisions for Q4 2025 is 11% or USD 182 million below expectations, despite net interest income exceeding expectations by 8% [1] Group 2 - Standard Chartered's revenue from the UAE is expected to account for 5.6% by 2025, with approximately 73% of its loan exposure in the UAE directed towards government, public institutions, or banks, indicating manageable credit risk overall [1] - The bank has cautioned investors not to view the better-than-expected performance as a norm, as the shortfall in pre-provision profit is largely due to one-time operational expenses and inventory losses in trading, which will not affect future earnings per share forecasts [1]

Group 1 - Standard Chartered Group (02888) announced a share buyback of 813,600 shares at a cost of £14.92 million on February 26, 2026 [2][4]

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渣打集團有限公司 （本公司） 薪酬委員會 （委員會） 職權範圍 1. 宗旨 委員會由董事會任命，以協助董事會就以下事項履行其監督職責及提供建議： 2. 責任 委員會須： 薪酬政策、管治及風險 董事會於二〇二六年二月批准 1 • 制定渣打集團有限公司及其附屬公司（本集團）薪酬政策的原則、參數及管治架 構，並監督其實施工作；及 • 釐定行政人員的薪酬及建議薪酬政策以供董事會及其後由股東批准。 2.1. 經考慮長期戰略目標、有關政策以及激勵及獎勵與企業文化的一致性，釐定並向董事 會建議董事薪酬政策以供股東批准； 2.2. 經考慮長期戰略目標、有關政策以及激勵及獎勵與企業文化的一致性，釐定及批准員 工（包括下文第 2.13 及 2.17 條所定義的高級行政人員）的薪酬架構及政策； 2.3. 確保本集團的薪酬政策適切及符合本集團的風險、控制及操守管理框架，並透過集團 風險總監及／或董事會風險委員會主席取得董事會風險委員會的意見； 2.4. 檢討及批准與薪酬有關的風險調整政策的設計、實施及應用； 2.5. 審查審慎監管局（「審慎監管局」）規則手冊及金融市場行為監管局（「金融市場行 為監管局」）手冊 SYSC 19 及英國 ...

委員會由董事會委任，以協助董事會履行其監督有關本公司董事會及其委員會 的組成及委任、訂立接繼任的多元化渠道、評核董事獨立性及渣打集團有限公 司及其附屬公司（本集團）的附屬公司企業管治的職責並就上述向董事會提供 意見。 職權範圍 1. 宗旨 渣打集團有限公司 （本公司） 管治及提名委員會 （委員會） 2. 責任 委員會須就： 董事會組成、繼任計劃及多元化 董事會於二〇二六年二月批准 1 2.1. 經考慮本集團的策略及面臨的挑戰後，檢討及評估董事會和其委員會的結構、 規模及組成（包括技能、知識、經驗方面的平衡以及促進多元化、包容性及平 等機會），作為其繼任計劃的一部分； 2.2. 就第 2.1 段引起的任何調整向董事會作出建議； 2.3. 就委任個別之董事的角色及所需具備能力編訂有關描述，包括評估該所需付出 的時間； 2.4. 帶領任命流程、基於個人品質及客觀標準（考慮促進多元化、包容性及平等機 會）物色並推薦合適人選供董事會批准以及於董事會位置出現空缺時填補空缺； 2.5. 檢討董事會多元化政策並就此向董事會推薦任何改動，並根據董事會為董事會 多元化方面訂立的任何可衡量目標，定期檢討進展； 2.6. 持續檢討本 ...

渣打集團有限公司 （本公司） 審核委員會 （委員會） 職權範圍 1. 宗旨 委員會由董事會任命，以協助董事會履行其於財務及非財務資料、內部控制、 內部及外部審計，以及舉報系統及監控方面的監督職責並就上述向董事會提供 意見。 2. 責任 委員會須： 財務及非財務資料 董事會於二〇二六年二月批准 1 內部監控 內部財務監控 會計及財務報告職能 2.14. 力求確保會計及財務報告職能獲得充分資源； 稅務策略 2.15. 審查並批准本集團的英國稅務策略； 董事會於二〇二六年二月批准 2 2.1. 監察及審慎評估本公司的財務報表、任何中期報告、初步公告及相關財務報表 的完整性，包括審閱任何重大財務報告問題及判斷以及虧損撥備（其中考慮到 本集團法定核數師向其通報的事項），並向董事會提供適當的建議以待批准； 2.2. 從管理層接收報告及向董事會就遵守會計準則及其他法律和監管規定提供核證； 2.3. 從管理層接收關於用於重大或異常交易記賬的任何方法（其中會計處理可採用 不同辦法）的報告。委員會應考慮重大會計政策及其任何修改，並向董事會提 出建議； 2.4. 審查新訂或經修訂重要會計政策、準則及披露慣常做法的影響； 2.5. ...