Key Developments: Standard Chartered PLC (SCBFF.PK)
22.35USD
19 Jun 2013
$-0.55 (-2.40%)
$22.90
$22.71
$23.07
$22.35
8,880
25,481
$27.87
$18.65
Latest Key Developments (Source: Significant Developments)
Standard Chartered PLC Plans JPY1 Billion Bond In Taiwan-Reuters
Reuters reported that Standard Chartered PLC is planning to sell a JPY1 billion bond in Taiwan, in the second such bond to be issued by a global bank. The Asia-focused bank is set to apply for approval for the issue from Taiwan regulators later this month, targeting retail investors, the sources said, who asked not be identified as the matter is yet to be public. A StanChart official in Taipei declined to comment. Full Article
Singapore Reprimands Standard Chartered PLC And Other Banks After Benchmark Rate Review-Reuters
Reuters reported that Singapore's central bank has censured Standard Chartered PLC and 19 other banks on June 14, 2013 after it found traders in the city state tried to manipulate benchmark borrowing and currency rates, and has ordered them to set aside additional reserves for a year. All of the banks on the Singapore's setting panels for interbank lending and currency rates were censured, along with Australia's Macquarie Bank. UBS AG, Royal Bank of Scotland Group PLC and ING Groep NV have been ordered to set aside the most in additional reserves, with each having to post between an extra SGD1 billion ($799.52 million) and SGD1.2 billion with the central bank. The money will be returned if the banks take the required remedial action. UBS and ING could not immediately be reached for comment. Other banks censured included BNP Paribas, Bank of America, Oversea-Chinese Banking Corporation, Barclays Bank PLC, Credit Suisse, DBS, Deutsche Bank and Standard Chartered PLC Full Article
Standard Chartered PLC Sells First Yuan Bonds In Singapore-Reuters
Reuters reported that HSBC Holdings PLC and Standard Chartered PLC has sold JPY1.5 billion ($244.63 million) worth of notes in Singapore in the first dim sum bond issuances since yuan-clearing became available in the city-state. HSBC's earlier pricing meant it beat rival StanChart to the punch. StanChart raised JPY1 billion through a Singapore-listed three-year offshore bond priced with a coupon of 2.625%. The bank received more than JPY3 billion in orders from 75 investors across Asia, it said. Full Article
Morgan Stanley To Sell India Wealth Management Unit To Standard Chartered PLC-Reuters
Reuters reported that Morgan Stanley has signed an agreement to sell its Indian wealth management unit to Standard Chartered PLC. Financial terms of the deal were not disclosed. The process is expected to be completed by the end of 2013. Morgan Stanley launched the sale of its Indian private wealth management unit in November 2012. The sale of the unit underscores a growing trend of consolidation in Asia's wealth management industry as private banks struggle to earn profits in the face of rising regulatory costs and wafer-thin advisory fees. Full Article
Standard Chartered PLC Issues FY 2013 Pre-Tax Profit Guidance Above Analysts' Estimates-Conference Call
Standard Chartered PLC announced that for fiscal 2013, it expects profit before tax at $8.2 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report Pre-Tax Profit of $8.1 billion for fiscal 2013. Full Article
Standard Chartered PLC Announces Final Dividend
Standard Chartered PLC announced that the 2012 final ordinary equity share dividend recommended by the Board is 56.77 cents per share ($1,366 million), which makes the total dividend for 2012 84.00 cents per share (2011: 76 cents per share). The final dividend will be paid on May 14, 2013 to shareholders on the UK and on March 15, 2013. Full Article
Standard Chartered PLC In Talks To Buy Morgan Stanley's Morgan Stanley India Wealth Unit-The Economic Times
The Economic Times reported that Standard Chartered PLC is in talks to buy Morgan Stanley's Indian private wealth management unit, which manages about $1 billion including loans, two sources with direct knowledge of the situation said. A couple of Indian financial services companies have also shown interest in buying the wealth management business, and a formal bidding process is expected to start soon, one of the sources told Reuters. The source did not name the companies. Full Article
Standard Chartered PLC Plans Sterling 25 Year Bond-DJ
Dow Jones reported thatStandard Chartered PLC has planned a sterling-denominated, 25-year bond, one of the banks running the deal said January 14, 2013. Initial price recommendations are in the range of 130 to 135 basis points over the reference gilt. Standard Chartered, Barclays, Lloyds, and UBS are the lead managers of the deal. Full Article
Standard Chartered PLC Plans 10-Year Lower Tier 2 Dollar Bond-DJ
Dow Jones reported that Standard Chartered PLC is preparing to sell subordinated bonds denominated in dollars with a 10-year maturity, a bank running the sale said January 08, 2013. Price guidance on the so-called lower tier two bonds was set in the area of 225 basis points over Treasurys. Bank of America Merrill Lynch, Goldman Sachs and Standard Chartered are lead managing banks on the deal. Full Article
Standard Chartered PLC To Pay $327 Million To Resolve U.S. Sanctions Case-Reuters
Reuters reported that Standard Chartered PLC agreed to pay $327 million to U.S. authorities to resolve allegations that it violated U.S. sanctions laws, capping months of legal headaches for the British bank. The U.S. Justice Department and the New York District Attorney's office on December 10, 2012 said the bank moved millions of dollars through the U.S. financial system in violation of sanctions laws, most of it on behalf of customers in Iran and Sudan. Full Article
StanChart plans 1 bln yuan bond in Taiwan -sources
TAIPEI, June 19 - Standard Chartered is planning to sell a 1 billion yuan bond in Taiwan, two brokerage sources familiar with the matter said on Wednesday, in the second such bond to be issued by a global bank.
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