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LATEST ARTICLES
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In a recorded message at Euromoney’s Awards for Excellence 2012 dinner, Sands urges his banking peers to rediscover their “social legitimacy” as he accepts Banker of the Year award
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Santander and Deutsche win main prizes at Euromoney’s Awards for excellence; Standard Chartered’s Sands named Banker of the year; Banks raise £482,595 for charity project in Ethiopia
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Standard Chartered's results may have disappointed somewhat, but the bank can take solace in its outperforming of European peers.
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Standard Chartered analysts have revised their forecast for the renminbi against the dollar, adding to growing doubts about the appreciation of China’s currency.
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Standard Chartered’s CEO for Asia failed to comply with UK rules on trading his own stock in the bank. The bank itself then breached FSA rules while awaiting details of the transaction
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China’s reserves offset imbalance; HSBC and Standard Chartered benefit
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Recently, I had a delicious gossipy lunch with a well-placed mole. Mole put forward an interesting theory about the UK banking arena: “In the old days”, he intoned, “banks and investment banks were seen as wealth creators and a force for good. For every pound earned by a slick banker, four pounds would be spent in Porsche show-rooms, London restaurants and poodle parlours. Now banks are seen as a force for evil.”
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Euromoney reveals that the bank has been working with three industry bodies to illustrate to regulators how certain areas of regulation need to be tweaked in order to prevent unintentional consequences
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Global investment banks increasing focus on continent
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Aims to double MENA revenue; Africa regional office to move to Johannesburg
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Dropping of Nedbank deal still unexplained; Door now open for Standard Chartered
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Of the interim results published in the second half of the week it was the Barclays Capital figures that impressed most. FICC income for the first half of 2010 was £4.948 billion. While this was a 40% decline relative to the more volatile first half of 2009, it is the only set of results that bears any sort of comparison with figures for the major US banks. For example, Goldman Sachs’s FICC revenue for the year to the end of June is $21.75 billion (£13.7 billion), compared with BarCap’s FICC revenue for the same period of £10.4 billion.
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Emerging markets specialist in Chinese alliance; AgBank IPO could be biggest ever.
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Market demands reform if IDRs to flourish; Tax, regulatory hurdles to be tackled
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After weathering the financial crisis better than most of its rivals, the bank is adopting an aggressive strategy in Asia. It has spent heavily and hired top talent, but getting the new generation to gel with the old won’t be easy. Lawrence White spoke to the heads of the main businesses.
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Sale proceeds to be reinvested in Africa; StanChart in Africa/Middle East custody push
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Standard Chartered Bank has teamed with officials from the People’s Bank of China, China’s State Administration of Foreign Exchange for a series of roadshows to promote renminbi trade settlement in Malaysia, Thailand and Singapore. This is the first time that officials from government and regulatory bodies in China have partnered with an international bank on a roadshow.
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While most have spent the past two years hunkering down, Standard Chartered has used the financial crisis as an opportunity to grow its wholesale business. Sudip Roy asks CEO Peter Sands if this signifies a change in the bank’s culture.
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The bank’s results reveal the benefits, and not the drawbacks, of mixing retail and wholesale banking.
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Standard Chartered Bank has concluded its first-ever structured Islamic FX hedging transaction in Europe. The deal was concluded with the European Islamic Investment Bank. The bank says it is part of an ongoing process to develop products that both follow Shariah principles and fulfil its customers’ specific requirements. StanChart adds the deal is the first of its kind under its new Musawamah documentation and involves an exchange of commodities for each FX leg.
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In case you missed it, what with the market starting to move about a bit again this week, Standard Chartered announced on Monday that it had decided to sponsor Liverpool Football Club – the largest commercial deal in the club’s history no less.
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SC expands as cashless competitors retreat; Tough markets mean deals stuck on the books
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The world has changed: so must banks.
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Emerging markets specialist announces raft of hires; Opportunities in equities and commodities
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Standard Chartered is expanding its reach and depth of business in Latin America. “This is our chance to take a larger piece of the global pie,” says Mohamed Grimeh, the bank’s head of trading and deputy head of global markets, Americas.
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It’s a bit of a funny bank, Standard Chartered. Even those who work there have been heard to joke about how their peers dismiss it as a niche Asian player. But revenge is sweet. It’s no secret that in the past, many high-calibre individuals turned down jobs at the bank to work for higher-profile, but what are now far smaller institutions. But if perceptions change slowly, there can be no lingering doubt that the bank is serious player in FX with the release of its results for 2008.
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Standard Chartered Bank has relaunched the Shariah-compliant version of its online treasury (OLT) FX trading and hedging platform under its global brand for Islamic products, Standard Chartered Saadiq. OLT integrates into Stan Chart’s Straight2Bank trading platform. The bank says it is the first to launch online services in Islamic FX utilising the Wa’ad structure; this allows Islamic companies and institutions to hedge forward FX exposures under a Shariah-compliant structure.
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Standard Chartered has opened a branch in Paris to tap into the considerable flow it already sees from French corporates and financial institutions. The bank says the branch will facilitate access for those French firms looking to capitalize on the huge investment flows between key markets in Asia, Africa and the Middle East. The team in Paris will be led by Raoul Leblanc.
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After 150 years of unbroken history in both China and India, Standard Chartered has decided to take a new step into uncharted territory by opening a branch in Paris. The bank says that around 10% of its European client revenue stems from French corporates and financial institutions and it believes the new branch will help French firms looking to capitalise on huge investment flows the banks see between its key markets in Asia, Africa and the Middle East.