Standard Chartered Overhauls Financial Disclosure and Segment Reporting

Standard Chartered ( (GB:STAN) ) just unveiled an update.

Standard Chartered has re-presented its historical financial information to shift from an underlying to a fully reported basis, reallocating items such as restructuring and ‘fit for growth’ costs into income, expenses and impairments within relevant segments. The bank has published 12 quarters of revised data on its website and stressed that neither past reported financial performance nor existing guidance has changed as a result of the new disclosure format.

The group has also reshaped its segment reporting by moving its Digital Banks into the Wealth & Retail Banking division and Standard Chartered Ventures into the Central & Other segment, with associated income and balance sheet items reallocated to product lines. Additional presentational changes, including enhanced geographic loan disclosure and a revised definition of network income, aim to give investors clearer insight ahead of more detailed guidance at an investor event in May.

More about Standard Chartered

Standard Chartered PLC is a London-headquartered international banking group offering corporate, commercial and retail banking, wealth management and financial markets services. The bank focuses on high-growth emerging markets across Asia, Africa and the Middle East, with its Hong Kong listing underscoring the importance of the region to its strategy and investor base.

See more insights into STAN stock on TipRanks’ Stock Analysis page.