Business
Changes to Presentation of Financial Information
Changes to Presentation of Financial Information.
About this update from Standard Chartered Plc
[{"type":"text","content":"\n\n2 April 2025\n \nSTANDARD CHARTERED PLC\nRE-PRESENTATION OF FINANCIAL INFORMATION\nAs previously announced at FY'24 results on 21 February 2025, Standard Chartered PLC (the Group) is making changes to financial disclosures and has today published a re-presentation of underlying figures for the Group, business segments and key geographies. To aid comparisons with prior periods at its results for the first quarter of 2025 to be published on 2 May 2025, a data pack with revised financial information has been made available today and can be found at the Group's website (Investor relations | Standard Chartered).\nNote the re-presentation provided today has not resulted in any changes to the reported financial performance of the Group. Furthermore, all guidance given at FY'24 results remains unchanged.\nThis re-presentation reflects three components:\n1. Changes to the allocation of Central & Others (C&O) items\nAs part of a change to financial reporting metrics within the bank, effective from 1 Jan 2025, the Group has allocated some of the centrally held treasury economics, corporate centre costs and tax charges to the underlying business segments and geographies driving those items. These changes have been made in order to drive better decision making, resource allocation and return outcomes across the Group; provide a more accurate view of the returns generated by business segments; and reduce the drag on return on tangible equity from C&O.\nThese re-allocations primarily reflect:\n· Treasury income: treasury outcomes which segments can directly benefit, influence and optimise are now allocated to the segments. These include income on equity, MREL funding costs and the economics of structural hedging (which match rate insensitive liabilities in the business). Note, there remain residual Treasury funding costs in the C&O segment, but these are expected to moderate over time as historical legacy equity structural hedges roll off\n· Corporate centre costs: a greater proportion of Group function costs have been allocated out from the centre into the segments\n· Treasury Risk Weighted Assets (RWAs): RWAs relating to the liquidity pool have been allocated out to the appropriate segments. The underlying asset and liability balances remain within Tre...