Standard Chartered CEO likely to bring little cheer

Standard Chartered Shanghai Towers

Bill Winters will probably bring little cheer to investors when he reports his first earnings since taking the helm of Standard Chartered, with analysts forecasting a capital gap of as much as $10bn.

Bloomberg News reports that Winters, who became CEO on June 10, will probably say on Wednesday that first-half revenue fell 7% to $8.8bn, the average estimate of seven analysts in a Bloomberg survey shows. Loan losses may have jumped 10% to $1.1bn, according to analysts at Barclays.

'We don’t expect the results to be particularly encouraging with revenues likely to still be under pressure, credit quality another area of concern and little capital progression', said Rohith Chandra-Rajan, an analyst at Barclays with an overweight rating on the shares. 'Given our concerns on credit quality, we expect the company to raise capital'.

To access the complete Bloomberg News article hit the link below:

Standard Chartered Capital Gap Seen Overshadowing Winters Debut

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