Core Insights - Standard Chartered has become the first major bank to enable spot trading of cryptocurrencies, indicating a significant shift in the financial landscape [1] - The bank is exploring the use of stablecoins and digital assets for local and global payments, recognizing their potential to transform the payment system [2][3] - There is a growing belief that digital asset wallets will gain traction, leading to a shift from conventional payment methods to stablecoin-based systems [4] Industry Trends - Regulators are preparing for a new wave of technology, with stablecoins primarily used in cryptocurrency trading and as a store of value for those lacking trust in national currencies [3][6] - The market capitalization of cryptocurrencies and digital assets remains low, with stablecoins currently experiencing daily flows of $20 billion, which is less than 1% of global payment system flows [6][7] - The potential for stablecoins to be issued by mainstream banks is being considered, with Standard Chartered already issuing Hong Kong dollar stablecoins and exploring tokenized bank deposits [4][7] Regulatory Considerations - The focus of regulators is on ensuring that stablecoins are backed by appropriate reserves to trade like cash, which is crucial for their acceptance and use [8]

Group 1 - The core viewpoint is that globalization is not in decline but is evolving in different ways, despite trade wars and geopolitical volatility [1] - There is an increasing complexity in making connections, driven by the desire to create new relationships as old ones become strained, affecting supply chains and manufacturing decisions [2] - The value of services is rising due to the friction costs associated with this complexity, presenting opportunities for those who can address client challenges [3] Group 2 - The Asia region is identified as the engine of global growth, accounting for 40% of all Foreign Direct Investment (FDI) and trade flows [5] - Tariffs, trade tensions, and political noise can create challenges, but they also present opportunities for businesses specializing in international connections, allowing them to turn potential headwinds into tailwinds [6] - The global economy in 2025 is characterized by complexity and friction, which has generally benefited traders and increased income through volatility [4]

格隆汇11月20日丨渣打集团(02888.HK)发布公告，2025年11月19日耗资758.6万英镑回购48.68万股。 ...

渣打集团(02888)发布公告，于2025年11月19日，该公司斥资合共758.6万英镑回购48.68万股股份。 ...

智通财经APP讯，渣打集团(02888)发布公告，于2025年11月19日，该公司斥资合共758.6万英镑回购 48.68万股股份。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 渣打集團有限公司 呈交日期： 2025年11月20日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | 佔有關事件前的現有已發 | | 庫存股 ...

Core Insights - The role of a CFO in a bank is distinct from that in industrial businesses, focusing on capital deployment and business velocity [1][2] - Standard Chartered is concentrating on high-growth areas such as cross-border banking and wealth management [3][9] - The bank's leadership emphasizes the importance of a strategic vision and the ability to connect people and markets [10][12] Financial Performance and Strategy - Standard Chartered has seen consistent upward results since the collaboration of CEO Bill Winters and CFO Diego De Giorgi [6] - Over half of the bank's revenue is generated from Asia, particularly from Hong Kong and Singapore [9][15] - The bank aims to be a "super connector" facilitating capital, wealth, goods, and services flows [10][11] Wealth Management and Client Relationships - Standard Chartered is the third largest wealth manager in Asia, attracting over $1 billion of net new money each quarter [18] - The bank is focused on affluent customers who are long-term savers and often have significant financial products tied to the bank [19][20] - There is a noticeable transition of clients from savings relationships to investment relationships, accelerating in recent years [21] Innovation and Digital Banking - The bank has launched digital banks Mox in Hong Kong and Trust in Singapore, and is expanding digital asset services [22] - Standard Chartered became the first major bank to enable spot trading of cryptocurrencies in July 2025 [23] - The bank is investing in AI to enhance productivity and streamline operations, aiming for significant cost savings [56][52] Sustainability and Future Outlook - Standard Chartered remains committed to sustainability, expecting to generate more revenue from sustainable finance in the coming years [61][62] - The bank's strategy includes navigating complexities in global finance, with a focus on wealth management and innovation [17][24] - The leadership sees opportunities in being a growth bank by engaging in high-growth businesses in high-growth markets [64]

Summary of Standard Chartered Conference Call (November 19, 2025) Company Overview - **Company**: Standard Chartered (SEHK: 02888) - **CFO**: Diego, who joined in January 2024 - **Stock Performance**: Stock price increased by approximately 150% since Diego's appointment, outperforming the SX7P index which rose by 110% [1][2][3] Key Business Segments and Performance Wealth Management - **Wealth Management Growth**: Significant growth driven by the rise of the middle class in Asia and increasing sophistication of investors [5][6] - **Record Net New Money**: Attracted $15 billion in Q2 and $13 billion in Q3, with a year-to-date growth of 15% in net new money flows and 25% growth in wealth income [7][10] - **Target for Affluent Net New Money**: Aiming for $200 billion over five years, averaging $10 billion per quarter [12] - **Investment in Wealth Management**: Plans to invest $1.5 billion, focusing on hiring relationship managers and enhancing technology [13] Cross-Border Income - **Growth Rate**: Achieved a 9% CAGR in cross-border income since 2019 [19] - **Competitive Advantage**: Strong network presence in ASEAN and Africa, with a focus on capital flows rather than trade [16][18] Financial Markets Business - **Risk Management Focus**: 70% of the markets business is dedicated to risk management, growing at 10% per annum [21][23] - **Integration with Banking**: The flow business is consistent and programmatic, while episodic business varies with market conditions [24] Strategic Insights - **Market Positioning**: Standard Chartered is focused on affluent customers ($1 million-$10 million), which are cheaper to acquire and serve, leading to high loyalty [9] - **Response to Market Volatility**: The bank has shown resilience during volatile times, with strong performance in both banking and markets businesses [26][27] - **Digital Assets Strategy**: Actively involved in digital banking and assets, including stablecoins and tokenized deposits, positioning itself as a central player in the digital asset revolution [35][36] Regional Focus and Turnaround Strategies - **UAE as a Growth Hub**: The UAE has become the third-largest wealth management hub for Standard Chartered, with a focus on attracting high-net-worth individuals [46][47] - **Korea and India**: Plans to pivot towards wealth management in Korea and India, with new wealth centers established [48][49][50] Financial Performance and Projections - **Return on Tangible Equity (ROTE)**: Achieved ROTE target for 2026 ahead of schedule, with projections for continued growth [28][29] - **Cost Management**: The "Fit for Growth" program aims to optimize costs while supporting growth, with a focus on maintaining a cost-conscious approach [62][63] Risks and Challenges - **Market Recession Impact**: A potential market recession could negatively affect wealth management performance, but the bank remains optimistic about its diversified clientele [75][77] Conclusion - **Outlook**: Standard Chartered is well-positioned for future growth, with a strong focus on wealth management, digital assets, and cross-border income, while maintaining a disciplined approach to cost management and capital allocation [80][81]

Core Viewpoint - Standard Chartered Bank successfully supported the issuance of €4 billion dual-tranche senior bonds by the Ministry of Finance in Luxembourg, reflecting strong international investor confidence in China's economy [1] Group 1: Bond Issuance Details - The bond issuance included €2 billion of 4-year senior bonds and €2 billion of 7-year senior bonds [1] - The 4-year bonds were priced at the mid-swap rate plus 5 basis points, with an issuance yield of 2.375% [1] - The 7-year bonds were priced at the mid-swap rate plus 13 basis points, with an issuance yield of 2.625% [1] Group 2: Investor Participation - The issuance attracted over 1,000 institutional investors, with total orders exceeding €100 billion [1] - A significant portion of the bonds was favored by global investors, including central banks, sovereign wealth funds, and public institutions [1] - Over 65% of the allocation went to regions outside Asia, indicating strong international confidence in China [1] Group 3: Market Implications - The successful issuance provides a benchmark for financing for Chinese issuers and other sovereign issuers in the international capital market [1] - The issuance demonstrates international investors' confidence in the resilience and vitality of the Chinese economy [1] - Standard Chartered Bank aims to continue its role as a "super connector" between China and global markets, supporting the ongoing opening and development of China's financial sector [1]

Core Viewpoint - The successful issuance of €4 billion sovereign bonds by the Ministry of Finance of the People's Republic of China in Luxembourg demonstrates strong international investor confidence in China's economic resilience and commitment to financial market openness [1][5]. Group 1: Bond Issuance Details - The issuance included €2 billion in 4-year bonds at an interest rate of 2.401% and €2 billion in 7-year bonds at an interest rate of 2.702% [1]. - The total subscription amount reached €100.1 billion, which is 25 times the issuance amount, with the 7-year bonds having a subscription multiple of 26.5 times [1][4]. Group 2: Investor Composition and Distribution - The investor base was diverse, with geographical distribution as follows: Europe (51%), Asia (35%), the Middle East (8%), and offshore investors from the United States (6%) [4]. - The types of investors included sovereign entities (26%), fund management (39%), banks and insurance companies (32%), and trading firms (3%) [4]. Group 3: Market Implications and Future Outlook - The issuance is seen as a benchmark for future euro financing by Chinese entities, reinforcing international market confidence in China's sovereign credit and economic outlook [5][6]. - The bonds will be listed on the Hong Kong Stock Exchange and the Luxembourg Stock Exchange, further enhancing financial cooperation between China and Luxembourg [4].