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.