atans1

HoHoHO: Still no dividend from StanChart

In Banks, Temasek on 02/11/2017 at 7:00 am

StanChart fell 6.5% to a six-month low of 702p in London after investors showed their disappointment with the slow turnaround.

Although there was a more than doubling of quarterly net profits, the bank had falling revenue in corporate finance, credit cards and personal loans. Analysts unhappy that there was only 4 % in revenues, which missed expectations, as well as higher than expected costs (also up 4%)

Worse, still no revival of dividend, “Andy Halford, chief financial officer at Standard Chartered, said the firm would assess whether or not to reinstate its much-anticipated dividend at the end of the year.”

HOHoHo.

Update at 10.45am: DBS is a better investment http://www.reuters.com/article/us-stanchart-results-breakingviews/breakingviews-stanchart-has-yet-to-reward-shareholders-patience-idUSKBN1D14KJ

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