“Grand Bank Report” Goldman Sachs…

Goldman Sachs issued a report saying that Standard Chartered Group (02888.HK) +0.500 (+0.929%) was short-selling at $2.93 million; the ratio was 19.707%. The basic profit before taxation for the third quarter was announced at $1.069 billion, which was lower than the original expected 3% of the bank. However, it is higher than the market expectation of 3%. The bank said that Standard Chartered’s third-quarter results were generally in line with expectations, maintaining its “neutral” investment rating and target price of 82 yuan, which is equivalent to forecasting a price-to-book ratio of 0.74 times next year.

The bank said that Standard Chartered‘s operating income for the third quarter was US$3.7 billion, down 1% quarter-to-quarter (up 4% year-on-year), which was lower than the bank’s original market expectation of 2%, mainly due to the quarterly net interest margin. During the period, loans fell by 2% quarter-to-quarter, mainly due to the lower activity of new shares in Hong Kong and the reduction of overdrafts by enterprises. Operating expenses during the Standard Chartered period fell by 5% quarter-on-quarter (up 1% year-on-year), which was better than the bank’s original expectation. Goldman Sachs said that Standard Chartered’s revenue growth and expenditure growth (Jaws) were flat in the first nine months of this year. (wl/t) (Price quotes are delayed by at least 15 minutes.

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