Share Search
Visit the Share Search
You are here:
Standard Chartered is expected to report a decline in full-year earnings, reflecting an increase in impairments.Consensus forecasts point to $5.73bn of adjusted pre-tax profit, down from $6.95bn the previous year.Numis said it predicts total impairments of $2.07bn, up from $1.6bn in 2013. The broker said the financial services group's results are also likely to reflect the impact of the slump in oil prices, as energy loans account for 5% of total group loans.The results follow news last week that chief executive officer (CEO) Peter Sands is stepping down in June following a campaign by shareholders and some executives who had blamed the bank's leadership. Former J.P. Morgan Chase & Co. executive Bill Winters will replace Sands."We are not of a view that replacing the current CEO, Peter Sands would be right for Standard Chartered; however at the very least we would expect a comment alongside the 2014 results," Numis said.On Monday, Sky News reported that Standard Chartered will shrink its bonus pool for 2014 about 9% to £715m. Sands last year cut bonuses by 15% after profits fell 11%.Wednesday 3 MarchINTERIMSINTERIM DIVIDEND PAYMENT DATECohort, Stagecoach GroupINTERNATIONAL ECONOMIC ANNOUNCEMENTSADP private payrolls (US) (13:15)ISM non-manufacturing (US) (15:00)Fed Beige Book (US) (19:00)FINALS4Imprint Group, Advanced Medical Solutions Group, Anpario, Carillion, CLS Holdings, Dignity, Exova Group, Greggs, ITV, Legal & General Group, Lookers, Melrose Industries, Novae Group, Sportech, SQS Software Quality Systems AG, Standard Chartered, Tarsus Group, TCS Group Holding GDR (Each Repr 1 A Shr) (Reg S)AGMSLocal Shopping REITUK ECONOMIC ANNOUNCEMENTSBRC Shop price index (00:01)Services PMI (09:30)