Final Results

RNS Number : 1894O

Standard Chartered PLC

03 March 2009

 



3 MARCH 2009

TO CITY EDITORS 

FOR IMMEDIATE RELEASE 

STANDARD CHARTERED PLC RESULTS FOR THE YEAR ENDED 31 DECEMBER 2008

Standard Chartered PLC Results for the year ended 31 December 2008

Highlights    

Reported results

• Operating income up 26 per cent to $13,968 million (2007: $11,067 million)
• Operating profit* up 13 per cent to $4,568 million (2007: $4,035 million) 
• Profit before taxation up 19 per cent to $4,801 million (2007: $4,035 million)
• Profit attributable to ordinary shareholders** up 17 per cent to $3,298 million (2007: $2,813 million)
• Total assets up 32 per cent to $435 billion (2007: $330 billion***)

Performance metrics⁺

• Normalised earnings per share up 1 per cent at 174.9 cents (2007: 173.0⁺⁺ cents)
• Normalised return on ordinary shareholders' equity of 15.2 per cent (2007: 15.6 per cent)
• Final dividend of 42.32 cents per share resulting in an annual dividend for 2008 of 61.62 cents per share⁺⁺⁺ up 3.3 per cent from 59.65 cents per share⁺⁺⁺ for 2007
• Normalised cost income ratio of 56.1 per cent (2007: 56.0 per cent)
• Advances-to-deposits ratio of 74.8 per cent (2007: 86.0 per cent)
• Core Tier 1 capital (Basel II basis) ratio at 7.6 per cent (2007: 6.6 per cent)
• Total capital ratio (Basel II basis) at 15.6 per cent (2007: 15.2 per cent) 

Significant achievements

• Delivered strong performance, with well diversified income streams
• Reinforced a liquid, well capitalised and diverse balance sheet
• Continued to de-risk the asset book, positioning it well to deal with challenges arising from an uncertain environment
• Further strengthened the Group's capital position through a successful rights issue
• Largely completed the integration of American Express Bank 

Commenting on these results, the acting chairman of Standard Chartered PLC, John Peace, said:

'    To deliver record results in this exceptional environment is a great achievement.  the Group has focused on building balance sheet strength and on maintaining high levels of liquidity. We are on a firm footing for the challenges and opportunities that will come during 2009.'

*      Operating profit represents profit before taxation excluding the gain of $233 million on the rights issue option (see note 7 on page 51 of the full final results announcement).

**     Profit attributable to ordinary shareholders is after the deduction of dividends payable to the holders of those non-cumulative redeemable preference shares classified as equity (see note 9 on page 51 of the full final results announcement).

***    Amounts have been restated as explained in note 36 on page 71 of the full final results announcement.

+      Results on a normalised basis reflect the results of Standard Chartered PLC and its subsidiaries (the 'Group') excluding items presented in note 10 on page 52 of the full final results announcement.

++    Earnings per share has been restated for the impact of the rights issue as explained in note 10 on page 52 of the full final results announcement.

+++  Dividends per share has been restated for the impact of the rights issue as explained in note 9 on page 51 of the full final results announcement.

Standard Chartered PLC - Stock Code: 02888 

The full 2008 final results announcement for the year ended 31 December 2008 is now available on the Group's website: http://investors.standardchartered.com/releases.cfm

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/1894O_-2009-3-3.pdf

 

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