Analyst Views: Can Standard Chartered turn around its weak position?
SHAILESH RAIKUNDLIA | ESPIRITO SANTO
Overall, we believe that with comparisons getting easier, the earnings revision momentum should turn positive from here. All divisions by product group were in line with our expectations – we continue to believe in the long-term growth dynamics of its emerging market footprint.
JOSEPH DICKERSON | JEFFERIES
Trends observed in first-half earnings support our view that consensus revenue expectations will continue to fall and, importantly, that credit quality deterioration will be the source of the next earnings downgrade cycle. The results reveal a material non-performing loans pick-up in most geographies.
IAN GORDON | INVESTEC
The first half was actually a very difficult half, with a raft of material headwinds in financial markets, cash/trade, own account, principal finance, Korea and foreign exchange. [But] the underlying return on equity of 10.4 per cent is respectable and ahead of peers.