Standard Chartered PLC (OTCPK:SCBFF)
$ 12.52 0.25 (2.04%) Market Cap: 29.73 Bil Enterprise Value: 40.90 Bil PE Ratio: 8.31 PB Ratio: 0.61 GF Score: 72/100
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Half Year 2024 Standard Chartered PLC Earnings Call Transcript

Jul 30, 2024 / 07:00AM GMT
Release Date Price: $9.74 (+4.23%)
William Winters
Standard Chartered PLC - Group Chief Executive Officer, Executive Director

Good morning and good afternoon, everyone, and welcome to our second quarter of 2024 results call. We are very pleased to have delivered a strong financial performance and are very encouraged by the progress on our established strategy. We're delivering exceptional cross-border services to the world's most sophisticated entities and individuals across our corporate and investment banking and wealth businesses. Income of $4.8 billion was up 7% in constant currency, and reflecting confidence in our performance, we're upgrading our income guidance and we now expect growth for 2024 to be above 7%. We're maintaining strong discipline on costs, with expenses up 4%, while asset quality has remained resilient. This has resulted in underlying profit before tax of $1.8 billion, which was up 15%.

Our financial momentum, together with progress on key strategic drivers, leaves us confident that we can consistently and sustainably drive towards higher returns. With our strong capital position, we're delighted to

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