Standard Chartered (STAN) Q2 2026 earnings summary

Executive summary

• Achieved record first-half and Q2 performance with EPS up 17% year-on-year to 151.6 cents, and strong momentum across core businesses.

• Upgraded 2026 income guidance to the midpoint of the 5%-7% growth range.

• Announced $1 billion share buyback and interim dividend of 20.4 cents per share, up 66%.

• Strategy focused on compounding growth, leveraging network, digital assets, and affluent client flows.

• Strong capital and liquidity position: CET1 ratio at 14.2%, leverage ratio at 4.7%, and liquidity coverage ratio at 148%.

Financial highlights

• Operating income for H1 2026 was $11.6 billion, up 6% year-on-year; net interest income $5.7 billion (+4% YoY); non-interest income $5.9 billion (+8% YoY).

• Profit before tax reached $4.8 billion, up 9% year-on-year; attributable profit to ordinary shareholders up 10%.

• Net tangible asset value per share rose 4% year-on-year to $17.55.

• Operating expenses up 1% year-on-year; cost-to-income ratio improved to 54.6%.

• Annualized loan loss rate for H1 was 26 basis points; credit impairment charge $446 million, mainly due to overlays for Middle East conflict.

Outlook and guidance

• 2026 income guidance upgraded to midpoint of 5%-7% CAGR; net interest income expected to rise by low single digits.

• Expenses for 2026 (excluding notable items) expected around $13.3 billion at constant currency.

• RoTE guidance maintained at greater than 12% for 2026; targets of above 15% in 2028 and around 18% in 2030.

• Loan loss rate expected at 30-35 basis points through the cycle.

• CET1 ratio to remain within 13%-14% range.