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渣打集团(02888):盈利回升路径清晰,股东回报继续领军
Shenwan Hongyuan Securities· 2025-12-30 12:44
Investment Rating - The report initiates coverage with a "Buy" rating for Standard Chartered Group [5][9]. Core Views - Standard Chartered Group is a globally positioned international bank with a strong focus on Asia, actively embracing emerging market opportunities, particularly in ASEAN and the Middle East. The bank's total assets reached approximately $914 billion as of Q3 2025, reflecting a year-on-year growth of 5% [5][22]. - The bank's return on tangible equity (ROTE) has shown a consistent upward trend, reaching 16.5% in 9M25, with expectations for continued improvement in profitability and shareholder returns [8][11]. - The report highlights the bank's strong non-interest income contribution, which stabilizes revenue amidst fluctuating interest rates, and its limited exposure to risks in the Chinese real estate sector [8][46]. Summary by Sections 1. Global Presence and Market Focus - Standard Chartered operates in 54 markets globally, with a significant emphasis on Asia, contributing over 64% of the group's revenue and 72% of pre-tax profit in 2024. The bank is strategically focusing on high-growth regions such as ASEAN and the Middle East [5][22][25]. 2. Financial Performance and Profitability - The bank's revenue is projected to grow from $17.38 billion in 2023 to $21.08 billion in 2025, with a compound annual growth rate (CAGR) of 10.25% for 2023 and 7.03% for 2025. Net profit attributable to shareholders is expected to increase from $3.47 billion in 2023 to $5.07 billion in 2025, reflecting a growth rate of 25.11% [6][9]. - The report anticipates a stable credit cost of around 0.2% in 2024, with a low non-performing loan ratio of 1.93% as of Q3 2025, indicating strong asset quality management [8][46]. 3. Business Segments - The bank's revenue is primarily driven by its Corporate and Investment Banking (CIB) segment, which contributes over 60% of total revenue, while Wealth Management and Retail Banking provide stable contributions of around 38% [5][31][35]. - Non-interest income has increased significantly, accounting for nearly 50% of total adjusted revenue, driven by strong performance in transaction banking, financial markets, and wealth management [8][46]. 4. Investment Analysis - The report projects a comprehensive return rate exceeding 7% for 2026, positioning Standard Chartered as a leader in the H-share banking sector. The anticipated growth in net profit and ROTE is expected to drive valuation recovery, with a target price-to-book (PB) ratio of 1.40 for 2026, indicating a potential upside of 23% [9][10][11].
渣打集团(02888)12月29日斥资963.57万英镑回购53.33万股
Jin Rong Jie· 2025-12-30 10:09
智通财经讯,渣打集团(02888)发布公告,于2025年12月29日,该公司斥资963.57万英镑回购53.33万股 股份。 本文源自:智通财经网 ...
渣打集团(02888) - 翌日披露报表

2025-12-30 08:48
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12月30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 | | | | | | | | | | | | 已發行股份(不包括庫存股份)變動 | | | 庫存股份變動 | | | | | | 事件 | 已發行股份(不包括庫 ...
渣打集团(02888.HK)12月24日耗资522.11万英镑回购28.88万股

Ge Long Hui· 2025-12-29 09:41
Core Viewpoint - Standard Chartered Group announced a share buyback of 288,800 shares at a cost of £5.2211 million, scheduled for December 24, 2025 [1] Group 1 - The total amount allocated for the share buyback is £5.2211 million [1] - The number of shares to be repurchased is 288,800 [1]
渣打集团(02888)12月24日斥资522.11万英镑回购28.88万股
智通财经网· 2025-12-29 09:38
智通财经APP讯,渣打集团(02888)发布公告,于2025年12月24日,该公司斥资522.11万英镑回购28.88万 股股份。 ...
渣打集团(02888) - 翌日披露报表

2025-12-29 09:30
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12月29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 | | | | | | | | | | | | | 已發行股份(不包括庫存股份)變動 | | 庫存股份變動 | | | | | | 事件 | 已發行股份(不包括庫 ...
渣打集团(02888)12月23日斥资948.25万英镑回购52.66万股
智通财经网· 2025-12-24 09:23
Group 1 - The core point of the article is that Standard Chartered Group announced a share buyback plan, intending to repurchase 526,600 shares at a cost of £9.4825 million, scheduled for December 23, 2025 [1] Group 2 - The total amount allocated for the share buyback is £9.4825 million [1] - The number of shares to be repurchased is 526,600 [1]
渣打集团(02888.HK)12月23日耗资948.25万英镑回购52.66万股

Ge Long Hui· 2025-12-24 09:09
格隆汇12月24日丨渣打集团(02888.HK)发布公告,2025年12月23日耗资948.25万英镑回购52.66万股。 ...
渣打集团(02888) - 翌日披露报表

2025-12-24 09:00
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12月24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 | | | | | | | | | | | 已發行股份(不包括庫存股份)變動 | | | 庫存股份變動 | | | | 事件 | | 已發行股份(不包括庫存股份)數 目 | 佔有關事件前 ...
渣打集团(02888.HK)12月22日耗资951.42万英镑回购53.19万股
Ge Long Hui· 2025-12-23 09:20
格隆汇12月23日丨渣打集团(02888.HK)发布公告,2025年12月22日耗资951.42万英镑回购53.19万股,每 股回购价17.8-18.03英镑。 相关事件 渣打集团(02888.HK)12月22日耗资951.42万英镑回购53.19万股 渣打集团(02888.HK)12月19日耗资821.20 万英镑回购45.89万股 ...