Streetbeat News

SCBFY

Standard Chartered plc

https://www.sc.com/en/

CEO

William Winters

Industry

Commercial Banking

Open

26.71

Mkt cap

64B

Volume

11K

High

26.76

P/E Ratio

8.88

52-wk high

27.40

Low

26.54

Div yield

0.02

52-wk low

14.35

Standard Chartered (OTC:SCBFY) predicts Bitcoin (CRYPTO: BTC) will reach $100,000 by 2024, citing increased market dominance and potential approval of spot ETFs for BTC and ETH in Q1 2024. The upcoming Bitcoin halving event in April 2024 is also expected to drive prices up. Bitcoin's price recently surpassed $38,000, influenced by positive inflation data and Federal Reserve policy. The COP28 will feature a Bitcoin mining delegation, indicating Bitcoin's growing relevance in global discussions.

Portfolio Pulse from Khyathi Dalal

November 29, 2023 | 2:25 pm

Standard Chartered Bank (China) has begun offering digital yuan exchange services, making it the first foreign bank to join China's CBDC pilot testing. The bank is collaborating with City Bank Clearing Services to provide access to the digital yuan's interconnection platform. China's digital yuan, or e-CNY, has seen significant adoption with $253.6 billion in transactions and 120 million wallets since 2020. The pilot is active in 26 cities and provinces, and the digital yuan is expected to enhance payment experiences and international financial market integration.

Portfolio Pulse from Khyathi Dalal

November 27, 2023 | 10:00 pm

Standard Chartered (OTC:SCBFF) has partnered with Singapore-based fintech Starfish Digital to provide multibank connectivity and enhance cash management processes. The partnership will leverage APIs and Open Banking to offer real-time treasury experience and expand Standard's API offerings. This move is in response to the growing demand for digital corporate banking capabilities.

Portfolio Pulse from Khyathi Dalal

September 28, 2023 | 3:13 pm

Singapore-based startup Silent Eight, backed by HSBC and Standard Chartered, is planning for an IPO by 2025. The company uses AI to assist financial institutions in combating financial crimes. With its software being adopted by major banks, Silent Eight is expected to see substantial growth. The company's revenue is set to triple this year, and it is expected to achieve profitability for the first time.

Portfolio Pulse from Nabaparna Bhattacharya

September 23, 2023 | 8:32 pm

Standard Chartered's innovation arm, SC Ventures, has launched a digital banking technology solutions provider, Audax Financial Technology. The Singapore-based company aims to assist banks in their digital transformation by creating new business models and seeking new revenue avenues. Audax will continue to serve Standard Chartered by powering its Banking-as-a-Service (BaaS) proposition, SC nexus. The B2B2X market, which Audax is part of, is expected to reach $440 billion in annual revenues by 2030.

Portfolio Pulse from Khyathi Dalal

September 21, 2023 | 10:45 pm

Apollo Global Management's aviation lending platform, PK Airfinance, is set to acquire most of a $920 million secured aviation loans portfolio from Standard Chartered. The remainder of the portfolio will be bought by Apollo. The transaction is expected to close by the end of 2023. Apollo's aviation business, including PK Airfinance, has over $40 billion of commitments year to date and a current loan portfolio of $4 billion.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 4:27 pm

Standard Chartered PLC (OTC:SCBFF) has signed a pact with China's Ant Group to deepen their partnership in green and inclusive finance, global fund management, and sustainable development. The companies will address environmental issues of climate change and ocean protection. Standard Chartered will support Ant Group in building a global liquidity and foreign exchange management structure and strengthen its collaboration in ESG, digital innovation, and inclusive finance.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2023 | 12:32 pm

Standard Chartered PLC (SCBFY) has agreed to sell its subsidiaries in sub-Saharan Africa to Access Bank in Nigeria for an undisclosed amount. The deal includes the bank's stake in its subsidiaries in Sierra Leone, Cameroon, Angola, and Gambia, as well as its consumer, private & business banking business in Tanzania. The deal aligns with Standard Chartered's strategy of enhancing operational efficiencies, decreasing complexity, and driving scale. The deal is expected to close next year.

Portfolio Pulse from Lekha Gupta

July 14, 2023 | 1:26 pm

Walmart's CFO expects Flipkart and PhonePe to reach $100 billion in value, driving the company's foreign market sales. XPeng launches self-driving tech in China, rivaling Tesla. Nvidia receives significant orders from ByteDance and Alibaba for its GPUs. Hong Kong regulator pressures HSBC and Standard Chartered to take on crypto clients.

Portfolio Pulse from Vandana Singh

June 15, 2023 | 1:47 pm

Hong Kong's banking regulator has urged banks, including HSBC and Standard Chartered, to take on crypto exchanges as clients despite recent collapses. The regulator wants banks not to burden potential customers with due diligence, especially those setting up an office in Hong Kong.

Portfolio Pulse from Anusuya Lahiri

June 15, 2023 | 11:35 am

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