Latest news with #StandardCharteredPlc
Bloomberg
25-07-2025
- Business
- Bloomberg
HSBC, Standard Chartered Tested by Geopolitical Woes as Valuations Climb
By , Justina T Lee, Harshita Swaminathan, and Reina Sasaki Save How HSBC Holdings Plc and Standard Chartered Plc have managed to cope with uncertainty on trade and interest rate trajectories will be on display in next week's earnings. Momentum in wealth management and cost savings will be key for HSBC's growth amid risks from President Donald Trump's tariffs, which threaten the bank's Asia-focused global trade business model, according to Bloomberg Intelligence. Similarly, Standard Chartered's wealth-management performance, efficiency efforts and the resilience of its cross-border network revenue to tariff and trade risks have provided support, BI said in a separate note.
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Business Standard
11-07-2025
- Business
- Business Standard
India widens global investor access to $639 bn corporate credit market
The financial regulator for the special economic zone known as GIFT City has allowed global banks including HSBC Holdings Plc and Standard Chartered Plc to offer total return swaps for corporate bonds Bloomberg By Saikat Das, Subhadip Sircar and Bhaskar Dutta India has expanded the usage of a derivative product popular with foreign investors, according to people familiar with the matter, giving them wider access to the nation's $639 billion credit market. The financial regulator for the special economic zone known as GIFT City has allowed global banks including HSBC Holdings Plc and Standard Chartered Plc to offer total return swaps for corporate bonds, the people said, asking not to be identified discussing a private matter. The expansion of these swaps to corporate debt — in addition to government bonds — comes as India's credit market is booming. Indian companies have issued a record amount of local currency notes, while the high-yield private credit market is also growing. Construction conglomerate Shapoorji Pallonji Group raised $3.4 billion this year in the country's biggest private credit deal. Total return swaps allow foreigners to get exposure to India without the need to open a domestic account. Under a swap, investors receive returns from an underlying asset without directly owning it, in exchange for fees to the other party. These instruments have become popular since the announcement of India's inclusion in global bond indexes, helping drive $22 billion of inflows into the nation's sovereign debt. While the approvals for the swaps are only for onshore rupee debt, there is also demand from banks to offer these derivatives for dollar bonds from companies in GIFT City, according to the International Financial Services Centres Authority. 'We will soon be floating a consultation paper in this regard,' K Rajaraman, chairman of the regulator said in an earlier interview.
Economic Times
18-06-2025
- Business
- Economic Times
StanChart faces RBI scrutiny over lapses in derivatives sales that can cause significant losses
Standard Chartered Plc is facing regulatory scrutiny in India after lapses were spotted in the sale of derivatives and problems identified in the bank's risk controls, according to people familiar with the matter. ADVERTISEMENT The Reserve Bank of India raised concerns about processes at the London-based lender following sales to small and medium-sized enterprises of target redemption forwards, a product that can cause significant losses, the people said. Buyers of those contracts were not adequately informed about the risks involved, they said, asking not to be identified discussing private information. The RBI's review of Standard Chartered is ongoing, with focus on derivative products and risk governance, according to the people. There is no indication of any formal enforcement actions at this time, they said. The banking regulator has also flagged issues relating to Standard Chartered's maintenance of reserves and the accounting treatment of forward rate agreement trades in previous financial years, the people said.'The RBI conducts annual inspection of banks,' a Mumbai-based spokesman for Standard Chartered said in an emailed statement. 'While we don't want to comment on specifics, observations, if any, are highlighted and addressed as part of normal process.'It's part of the RBI's routine examination of all banks in India to ensure compliance and soundness of the financial system. While inspection reports are not made public, it's not too uncommon for the RBI to issue directives or actions on their findings. ADVERTISEMENT The RBI didn't respond to requests for comment. Standard Chartered has been operating in India for more than 165 years, making it one of the oldest foreign banks in the country, according to its website. It operates a network of 100 branches across 42 cities with its primary business segments in the country being corporate and investment banking, as well as wealth and retail banking. (You can now subscribe to our Economic Times WhatsApp channel)
Mint
18-06-2025
- Business
- Mint
Under the scanner! RBI probes Standard Chartered on lapses in derivative sales to SMEs
Standard Chartered Plc is facing regulatory scrutiny in India after lapses were spotted in the sale of derivatives and problems were identified in the bank's risk controls, according to people familiar with the matter. The Reserve Bank of India raised concerns about processes at the London-based lender following sales to small and medium-sized enterprises of target redemption forwards, a product that can cause significant losses, the people said. Buyers of those contracts were not adequately informed about the risks involved, they said, asking not to be identified discussing private information. The RBI's review of Standard Chartered is ongoing, with focus on derivative products and risk governance, according to the people. There is no indication of any formal enforcement actions at this time, they said. The banking regulator has also flagged issues relating to Standard Chartered's maintenance of reserves and the accounting treatment of forward rate agreement trades in previous financial years, the people said. 'The RBI conducts annual inspection of banks,' a Mumbai-based spokesman for Standard Chartered said in an emailed statement. 'While we don't want to comment on specifics, observations, if any, are highlighted and addressed as part of normal process.' It's part of the RBI's routine examination of all banks in India to ensure compliance and soundness of the financial system. While inspection reports are not made public, it's not too uncommon for the RBI to issue directives or actions on their findings. The RBI didn't respond to requests for comment. Standard Chartered has been operating in India for more than 165 years, making it one of the oldest foreign banks in the country, according to its website. It operates a network of 100 branches across 42 cities with its primary business segments in the country being corporate and investment banking, as well as wealth and retail banking.
Bloomberg
15-05-2025
- Business
- Bloomberg
Standard Chartered Set to Open New York Private Markets Unit
Standard Chartered Plc will ramp up its coverage of the world's largest financial sponsors, with a view to more than doubling its income from these clients over the coming years. The London-based bank which has seen its share price roiled in recent weeks by geopolitical uncertainty, said it would be hiring about 25 bankers for a new private markets-focused team, according to a company statement.
