Glonghui, May 6 | Haitong International released a report. Standard Chartered's first-quarter revenue and net profit before taxes won expectations, maintaining net profit forecasts for the 2024 and 2025 fiscal years of US$356 million and US$397 million, respectively, with increases of 18% and 12%. The bank maintained a “outperforming the market” rating. The target price increased from HK$77.53 to HK$90.37. According to Haitong International, Standard Chartered's net interest income guideline target for the 2024 fiscal year remains unchanged. It is still 10 billion to 10.25 billion US dollars, which means a year-on-year increase of 5% to 7%. The Group also maintained its target of low unit growth in loans and RWA for FY2024. Furthermore, according to the report, Standard Chartered has completed 67% of the $1 billion share repurchase announced in February. The Group is still targeting the CET1 ratio between 13% and 14%. RoTE will increase from 10% to 12% in fiscal 2026, and will gradually increase its annual dividend per share.
大行评级｜海通国际：上调渣打目标价至90.37港元 维持“跑赢大市”评级
Bank Rating | Haitong International: Raised Standard Chartered's target price to HK$90.37 to maintain “outperform the market” rating
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