Financial Performance - Standard Chartered PLC reported its financial results for the year ending December 31, 2024, reflecting a comprehensive income statement and balance sheet as of the same date[3]. - The group achieved a total revenue of £3.40 billion, representing a 5% increase in adjusted pre-tax profit compared to the previous year[11]. - The group achieved a pre-tax profit margin of 76% in 2024, compared to 78% in 2023[16]. - The company's profit before tax for 2024 was 5,093 million in 2023[71]. - The net profit for the year was 3,462 million in 2023[71]. - The company's total comprehensive income for the year ended December 31, 2024, was HKD 3,472 million, a decrease of 18.5% from HKD 4,263 million in 2023[73]. - The adjusted profit before tax for the group is set at HKD 6.807 billion, reflecting an increase from the previous year's adjusted profit before tax of HKD 6.014 billion[56]. - The total profit attributable to ordinary shareholders for 2024 is HKD 3,593 million, an increase from HKD 3,017 million in 2023[166]. Audit and Compliance - The audit covered financial data from 10 entities across 8 countries, ensuring a thorough review of the group's financial statements[11]. - The company emphasized the importance of maintaining independence in its audit processes, adhering to ethical standards in financial reporting[8]. - The financial statements were prepared in accordance with UK International Accounting Standards and EU International Financial Reporting Standards, ensuring compliance and transparency[9]. - The audit team engaged in regular interactions with local management and audit teams to ensure comprehensive oversight[20]. - The audit included a review of the completeness and accuracy of key data elements significant to the simulated expected credit loss outputs[30]. - The company has not identified any significant misstatements in the strategy report or board report during the audit process[62]. Risk Management - The group has identified key emerging risks that may impact its operational continuity and is actively managing these through rigorous assessments and stress testing[12]. - Climate risk management is integrated into the group's risk framework, addressing stakeholder concerns about economic impacts[22]. - The group assessed the potential impact of climate change on its business and financial statements during the audit process[22]. - The overall assessment of credit risk triggers has increased significantly, reflecting heightened uncertainty and volatility in the macroeconomic and geopolitical landscape[34]. - The company has established a general model for assessing climate risk impacts across six priority development industries[89]. Credit Risk and Impairment - The company is focused on enhancing its credit risk management, particularly in assessing the impairment of investments in subsidiaries and joint ventures[11]. - The group reported a credit impairment provision of 5.267 billion as of December 31, 2024, compared to 5.601 billion in 2023[27]. - The assessment of expected credit loss provisions includes a focus on risks associated with commercial real estate in mainland China and Hong Kong[34]. - The total credit impairment for the group is 547 million in 2024, up from 508 million in 2023[147]. - The expected credit loss model incorporates various macroeconomic variables, including GDP growth and interest rates, to assess credit risk[130]. Capital and Liquidity - The group maintained a strong capital position, with liquidity ratios exceeding regulatory requirements, indicating robust financial health going into 2025[12]. - The group has sufficient capital and liquidity to meet minimum regulatory capital and liquidity requirements[102]. - The group’s capital and leverage ratios have been analyzed, ensuring compliance with capital requirements[102]. Investments and Mergers - The group has outlined a strategic plan for potential mergers and acquisitions to bolster its market presence and operational capabilities[12]. - The investment in Bohai Bank has been identified as impaired due to its market value being significantly lower than the book value and the bank not paying dividends for the second consecutive year[37]. - The group holds a 16.26% stake in Bohai Bank, qualifying it as an associate company due to significant influence[36]. Operating Income and Expenses - Operating income for the group was reported at 83% in 2024, a decrease from 87% in 2023[16]. - Operating expenses for 2024 totaled 11,551 million in 2023[71]. - The company's total liabilities rose to HKD 798,404 million, an increase of 3.4% from HKD 772,491 million in 2023[75]. Shareholder Returns - The proposed final ordinary share dividend for 2024 is HKD 0.28 per share, which will be recorded as retained earnings distribution in the financial statements for the year ending December 31, 2024[162]. - The company announced a share repurchase plan on February 23, 2024, with a total cost of 10.00 billion for repurchasing shares, totaling 113,266,516 shares, which is approximately 4.25% of the issued ordinary shares at the start of the plan[78]. Future Outlook - The company plans to continue its investment strategy, focusing on capitalizing on software and expanding its market presence[79]. - The company believes that the short-term quantifiable impact of climate risk is limited, while long-term risks are expected to be addressed through business strategies and financial planning[92].
渣打集团(02888) - 2024 - 年度业绩