May 06, 2016 5:32 AM ET

Banks

Company Overview of Standard Chartered Bank

Company Overview

Standard Chartered Bank, together with subsidiaries, provides a range of banking products and services to personal and business customers in Asia, Africa, the Middle East, Europe, and the Americas. Its personal banking services include savings and accounts products, loans, mortgages, credit cards, insurance products, investments, and employee banking services. The company also provides transaction banking services, such as cash management, trade services, and securities services; financial markets products, including equities, commodities, foreign exchange, capital markets, and structuring products; and corporate finance products comprising project and export, mergers and acquisitions, struc...

1 Basinghall Avenue

London,  EC2V 5DD

United Kingdom

Founded in 1853

90,213 Employees

Phone:

44 20 7885 8888

Fax:

44 20 7885 9999

Key Executives for Standard Chartered Bank

Chairman and Group Chief Executive Officer
Age: 53
Head of External Communications, Group Technology & Operations
Regional Chief Executive Officer for ASEAN and South Asia
Age: 49
Chief Executive Officer for Singapore Operations
Chief Executive Officer of Commercial & Private Banking
Age: 41
Compensation as of Fiscal Year 2015.

Standard Chartered Bank Key Developments

Standard Chartered Bank Reports Audited Consolidated and Company Earnings Results for the Year Ended December 31, 2015

Standard Chartered Bank reported audited consolidated and company earnings results for the year ended December 31, 2015. For the year, on consolidated basis, the company reported net interest income was $9,506 million against $5 million a year ago. Operating income was $15,219 million against $18,202 million a year ago. Loss before taxation was $1,407 million against profit of $4,147 million a year ago. Loss attributable to parent company shareholders was $2,631 million against profit of $1,875 million a year ago. Net cash used in operating activities was $27,057 million against cash from operating activities of $52,541 million a year ago. Purchase of property, plant and equipment was $130 million against $189 million a year ago. For the year, on company basis, the company reported net cash used in operating activities was $25,346 million against cash from operating activities of $44,183 million a year ago. Purchase of property, plant and equipment was $73 million against $82 million a year ago.

Standard Chartered Bank Opens Exellerator - the Bank's New Innovation Lab

Standard Chartered Bank announced the opening of the eXellerator - the Bank's innovation lab located in Singapore. The eXellerator builds upon Standard Chartered's established technology outpost in Silicon Valley, SC Studios, and is the first of such a dedicated and strategic space for the Bank in Asia. The eXellerator in Singapore will work closely with the business units within the Bank and explore the use of emerging technologies and data science for sustainable business solutions. The lab is located at the heart of Singapore's dynamic financial district in the Bank's main office building at Marina Bay Financial Centre.

Standard Chartered PLC and Standard Chartered Bank Announce Results of Non-US Tender Offers

On 11 March 2016, Standard Chartered PLC (SCPL) invited holders of its £150,000,000 undated primary capital floating rate notes, €1,000,000,000 floating rate notes due 2017, €1,250,000,000 1.750% notes due 2017 and €1,000,000,000 4.125% notes due 2019 (together, the SCPLC Notes) to tender the SCPLC’s notes for repurchase by the company for cash, subject to certain offer restrictions as contained in the section ‘offer and distribution restrictions’ of the tender offer memorandum. On 11 March 2016, Standard Chartered Bank (SCB) invited holders of its £200,000,000 undated subordinated step-up notes and £675,000,000 fixed/floating rate step up undated subordinated notes to tender the SCB notes for repurchase by the company for cash, subject to certain offer restrictions as contained in the section ‘offer and distribution restrictions’ of the tender offer memorandum. Further to the announcements made by the companies on 11 March 2016 and earlier 21 March 2016, the companies announced that the results of the Offers, including the aggregate nominal amount of each series of notes validly tendered and not validly withdrawn by the expiration deadline and to be accepted for repurchase. For the £150,000,000 undated primary capital floating rate notes, £200,000,000 undated subordinated step-up notes and £675,000,000 fixed/floating rate step up undated subordinated notes: the maximum consideration amount is $1,234,784,255.36; and the aggregate nominal amount of priority acceptance level 1 notes validly tendered and accepted for repurchase in full is £256,826,000. For the €1,000,000,000 floating rate notes due 2017, €1,250,000,000 1.750% notes due 2017 and €1,000,000,000 4.125% notes due 2019 (Priority Acceptance Level 2 notes): the scaling factor for the priority acceptance level 2 notes is 86.5430%;   the maximum second priority consideration amount is $878,952,416.98; and the aggregate nominal amount of priority acceptance level 2 notes accepted for repurchase is €756,009,000. The aggregate nominal amount of each series of priority acceptance level 1 notes validly tendered and not validly withdrawn and to be accepted for repurchase in full, the levels at which the companies agree to set the aggregate nominal amount of each series of priority acceptance level 2 notes to be accepted for repurchase, the benchmark rates for the 2017 notes and the 2019 notes, the purchase yields and the repurchase price for each series of notes, are detailed in the table below. Each noteholder whose notes have been accepted for repurchase is entitled to receive on the settlement date, (which is expected to be 23 March 2016), the relevant repurchase price plus accrued interest in respect of such notes.

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