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BUZZ-Stan may be the man for now in EM sweepstakes
August 7, 2013 / 3:47 AM / 4 years ago

BUZZ-Stan may be the man for now in EM sweepstakes

Standard Chartered appears to be better placed to weather the slowdown in emerging markets than large rival HSBC which is still battling legal battles in the U.S.

** HSBC shares in Hong Kong have outpaced those of StanChart by 10 percentage points so far this year and that gap has started to narrow.

** StanChart shares last underperformed HSBC on yearly returns in 2008.

** A simple ratio of share prices for HSBC vs. Stan Chart is currently around the levels last seen in Feb 2010 when the latter’s shares began a sharp outperformance that lasted nearly 9 months. Chart:

** On most financial metrics the two banks are running neck-and-neck. Both trade around 1.2 times book with a net interest margin around 2.3 percent, according to StarMine while loans and deposit growth is slightly better at Standard Chartered.

** Both banks reported half-yearly results earlier this week.

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