Bloomberg Talks Standard Chartered Bank CFO Diego De Giorgi Talks Higher Returns
Feb 21, 2025
Diego De Giorgi, CFO of Standard Chartered Bank, shares insights from the bank's strong fourth-quarter earnings, revealing a $1.5 billion return to shareholders. He discusses how rising interest rates positively impacted net interest margins and how banks can guide clients amid market volatility. The conversation also highlights the growing significance of global wealth management, particularly in emerging markets, and addresses the competitive landscape of banking talent and the need for performance-aligned compensation.
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Strong Earnings Performance
- Standard Chartered's Q4 earnings beat estimates, prompting a $1.5 billion return to shareholders.
- Their consistent growth in financial markets, banking, and wealth management drove a 11.7% return on tangible equity.
Balanced Income Streams
- Standard Chartered's net interest income and non-net interest income each contribute about 50% to their top line.
- Their non-net interest income grew by 20% last year, driven by strong growth engines.
Sustainable Global Markets Business
- Standard Chartered's global markets business acts as a connector, primarily helping clients manage exposures to foreign currency and interest rates.
- This focus on recurrent activity, coupled with opportunistic gains during market volatility, makes their performance sustainable.