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].
渣打集团(02888) - 2021 - 中期财报