I’m in danger of falling in love with Standard Chartered:
- 13% rise in 2009 profits
- Record results, despite world recovering from near-Armageddon scenario
- “Very strong” start to 2010
- Paying bonuses due to “red hot” competition in its sector
- Bad debt up to $2 billion, but trending down
- Sensible business model based on, you know, lending people money for a fair return
Monevator readers may remember I held Standard Chartered and HSBC through the credit crisis. I’m somewhat overweight in the former now, but I can’t see me selling for a while.
Like many long-time admirers of STAN, I’m just hoping success doesn’t go to its head.
There’s talk of a Mumbai, India, listing in 2010, which might make political sense but I trust isn’t a harbinger of capital raising and ill-fated expansion.
(Disclosure: Long STAN and HSBA)
(Source: Reuters on Standard Chartered’s 2009 results)
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