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2007 Annual Report and Accounts 2007 Sustainability Review

2007 Highlights:

A year of growth and strong performance

The Group achieved record income and profit in 2007, reflecting the resilience of our businesses amidst the financial market turmoil. Our strong balance sheet and healthy liquidity profile has put us in a strong position to seize the business opportunities that are unfolding in the financial services industry.

Operational highlights

  • Record earnings: Operating income exceeded $11 billion and profit before tax surpassed $4 billion, both for the first time
  • Broad-based growth: Headline income grew 28 per cent, with organic income growth accelerating to 23 per cent, a record high
  • EPS growth: Normalised earnings per share increased 15.8 per cent to 197.6 cents
  • Strong markets: For the first time, profit before tax surpassed $1 billion from Hong Kong and $500 million each from India and the MESA region
  • Strong balance sheet: The Group’s liquidity and capital positions remain comfortably above targets, despite market turbulence
  • Private banking: Launched The Standard Chartered Private Bank, with offices now spread across 11 locations in seven markets
  • Acquisition of American Express Bank to give a further boost to the Private Bank and Transaction Banking
  • Islamic Banking: Launched Saadiq, our global Islamic Banking brand, in the UAE, Malaysia, Pakistan and Bangladesh
  • China: Incorporated in China and launched local renminbi banking services
  • Sustainable business strategy: Committed $8 –10 billion over the next five years to finance renewable and clean energy projects

Financial highlights

Operating income

$11,067m

  • 2006: $8,620m
  • 2005: $6,861m

Profit before taxation

$4,035m

  • 2006: $3,178m
  • 2005: $2,681m

Total assets

$329bn

  • 2006: $266bn
  • 2005: $215bn

Normalised earnings per share

197.6cents

  • 2006: 170.7 cents
  • 2005: 153.7 cents

Normalised return on equity

15.6%

  • 2006: 16.9%
  • 2005: 18.0%

Dividend per share

79.35cents

  • 2006: 71.04 cents
  • 2005: 64.00 cents

For more information please refer to our Key Performance Indicators.

 

Non-financial highlights

Employees

70,000

  • 2006: 59,000
  • 2005: 44,000

Countries and territories

57

  • 2006: 56
  • 2005: 56

Nationalities

115

  • 2006: 105
  • 2005: 89
 

Five–year review

Total Assets
Total Assets($bn)
See Details
Operating Income
Operating income($m)
See Details
Profit before tax
Profit before
taxation($m)
See Details
Dividend per Share
Dividends per
share(cents)
See Details

Throughout this document, unless another currency is specified, the word ‘dollar’ or symbol ‘$’ means United States dollar and the word ‘cents’ or symbol ‘c’ means one-hundredth of one United States dollar.

* Figures for 2004 have been restated under IFRS, excluding IAS32 and IAS39.