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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Standard Chartered PLC    STAN   GB0004082847

STANDARD CHARTERED PLC

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Standard Chartered : PACRA Maintains Entity Ratings of Standard Chartered Bank (Pakistan) Limited - Press Release issued by The Pakistan Credit Rating Agency Limited

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06/26/2020 | 11:14am EDT

June 25, 2020 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

Quote

The ratings reflect SCBPL's association with a financially sound and reputed international bank - Standard Chartered PLC. This is supplemented by SCBPL's strategic and operational integration into the parent as the bank continues to benefit from the technical resources and cumulative expertise developed at the group level. The ratings incorporate the bank's dominant position in its target niche market (MNCs, established domestic Corporates and affluent retail clients) through a comprehensive product suite and significant digital capabilities complemented by its international franchise and its extensive presence in tier-I cities. The bank has depicted stronger profitability in CY19.

The bank is increasing its focus on deployment of advances to boost profitability, as reflected by its enhanced ADR ~46.8% in CY19 (CY18: 39.9%), which has narrowed the gap to industry average (51.5%). The ratings factor in sound management quality, healthy spreads, efficient operating structure and ample liquidity of the bank. SCBPL's pre-dominantly low-cost deposit base has enabled the bank to achieve one of the best CASA mix in the industry, while distinguishing it in its peer universe it also facilitates core operating activities.

The bank is focused towards enhancing yield, cost efficiency, increasing client revenue and growing retail asset base. The risk absorption capacity of the bank, measured in terms of CAR, is robust (16.94%). Covid-19 has posed challenges to the banking sector, as almost all segments of the economy, worldwide and domestically, are getting negatively impacted. The ramifications would continue to unfold, warranting vigilance and timely actions where needed.

The ratings remain dependent on the bank's ability to maintain its presence in profitable segments, while remaining abreast of changing domestic operating environment. Meanwhile, maintaining spreads whilst not compromising on the asset quality is important for the bank.

For more information, contact:AnalystThe Pakistan Credit Rating Agency Limited (PACRA)Awami Complex, FB1, Usman Block New Garden Town,Lahore - PakistanTel: +9242 586 9504 -6Fax: +9242 583 0425Email: hammad.rashid@pacra.comWeb: www.pacra.com

Unquote

© Pakistan Press International, source Asianet-Pakistan

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Financials (USD)
Sales 2020 15 200 M - -
Net income 2020 941 M - -
Net Debt 2020 - - -
P/E ratio 2020 19,5x
Yield 2020 1,85%
Capitalization 17 603 M 17 599 M -
Capi. / Sales 2020 1,16x
Capi. / Sales 2021 1,16x
Nbr of Employees 85 389
Free-Float 93,9%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 6,31 $
Last Close Price 5,59 $
Spread / Highest target 57,5%
Spread / Average Target 12,9%
Spread / Lowest Target -19,4%
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William Thomas Winters Group Chief Executive Officer & Executive Director
José Viñals Group Chairman
David Whiteing Group Chief Operating Officer
Andrew Nigel Halford Group Chief Financial Officer & Executive Director
Michael Gorriz Group Chief Information Officer
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