Standard Chartered releases 2017 results
27 February 2018 London
Image: Shutterstock
Standard Chartered earned $3 billion in 2017, a 175 percent increase in its profit before tax, according to its annual results for 2017.
The bank reported that its statutory profit before tax was $2.4 billion.
Regulatory costs rose 15 percent, due to the introduction of certain regulations, including the implementation of the second Markets in Financial Instruments Directive.
The report also stated that the early assessment of its final Basel III reforms are to be implemented in 2022, with a 10-15 percent increase in current risk weighted assets.
Standard Chartered reported that it also saw 鈥渇urther significant progress in implementing financial crime prevention capabilities鈥� with 鈥渃ontinuing cooperation and ongoing discussions with US and UK authorities to resolve historical matters鈥�.
Standard Chartered said that the report also showed that asset quality overall has improved because of an extra 鈥渇ocus on better quality origination within a more granular risk appetite鈥�.
In terms of capital, the amount of total assets stood at $663.5 million, while total equity stood at $51.8 million.
Liquidity coverage ratio was 146 percent with what Standard Chartered explained was 鈥渁 prudent surplus to regulatory requirements.鈥�
Bill Winters, group CEO of Standard Chartered, said 鈥淭he transformation of the group continued in 2017 with the significant improvement in underlying profits, a strong capital position and emerging clarity on regulatory capital requirements allowing us to resume paying dividends.鈥�
He added: 鈥淲e are encouraged by our start to 2018 and remain focused on realising the Group鈥檚 full potential.鈥�
The bank reported that its statutory profit before tax was $2.4 billion.
Regulatory costs rose 15 percent, due to the introduction of certain regulations, including the implementation of the second Markets in Financial Instruments Directive.
The report also stated that the early assessment of its final Basel III reforms are to be implemented in 2022, with a 10-15 percent increase in current risk weighted assets.
Standard Chartered reported that it also saw 鈥渇urther significant progress in implementing financial crime prevention capabilities鈥� with 鈥渃ontinuing cooperation and ongoing discussions with US and UK authorities to resolve historical matters鈥�.
Standard Chartered said that the report also showed that asset quality overall has improved because of an extra 鈥渇ocus on better quality origination within a more granular risk appetite鈥�.
In terms of capital, the amount of total assets stood at $663.5 million, while total equity stood at $51.8 million.
Liquidity coverage ratio was 146 percent with what Standard Chartered explained was 鈥渁 prudent surplus to regulatory requirements.鈥�
Bill Winters, group CEO of Standard Chartered, said 鈥淭he transformation of the group continued in 2017 with the significant improvement in underlying profits, a strong capital position and emerging clarity on regulatory capital requirements allowing us to resume paying dividends.鈥�
He added: 鈥淲e are encouraged by our start to 2018 and remain focused on realising the Group鈥檚 full potential.鈥�
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 麻豆传媒 Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 麻豆传媒 Finance Times
