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Standard Chartered - Annual Report 2006

Standard Chartered - Annual Report 2006

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Published by Kamran Tahir
An Annual Report of Standard Chartered Bank for the year ended 2006.
An Annual Report of Standard Chartered Bank for the year ended 2006.

More info:

Published by: Kamran Tahir on Jan 11, 2008
Copyright:Attribution Non-commercial

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03/21/2013

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\ue000
Leading
Annual Report
and Accounts 2006
the way
in Asia, Africa and
the Middle East
StandardCha
rtered
A

n n u a

l
R
e
p
o
r
t
a
n
d
A

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c
o

u n t

s

2 0 0 6

Strategic intent
The world\u2019s best international bank
Leading the way in Asia, Africa and the Middle East
Brand promise
The Right Partner \u2013 Leading by Example
Values
Responsive
Trustworthy
Creative
International
Courageous
Approach
Commitment
to stakeholders
1
Performance Highlights
2
Group at a Glance:
Our Business
4
Group at a Glance:
Regions of Operation
6
Chairman\u2019s Statement
8
Group Chief Executive\u2019s
Review
12 Business Review:
Performance
18 Business Review: People
22 Business Review:
Sustainability

26 Financial Review
34 Risk Review
49 Capital

50 Board of Directors
52 Senior Management
53 Report of the Directors
56 Corporate Governance
61 Directors\u2019 Remuneration
Report
74 Statement of Directors\u2019
Responsibilities
75 Independent Auditor\u2019s
Report
76 Consolidated Income
Statement
77 Consolidated Balance
Sheet
78 Statement of Recognised
Income and Expense
79 Cash Flow Statement
80 Company Balance
Sheet
81 Notes to the Accounts
143 Supplementary Financial
Information
148 Shareholder Information
150 Principal Group
Addresses
152 Index
IBC Major Awards in 2006
What we stand for
Participation

Focusing on attractive, growing markets where we can leverage our relationships and expertise

Competitive Positioning

Combining global capability, deep local knowledge and creativity to outperform our competitors

Management Discipline

Continuously improving the way we work,
balancing the pursuit of growth with firm
control of costs and risks

Our People

Helping our people to
grow, enabling individuals
to make a difference and
teams to win

Communities

Trusted and caring,
dedicated to making
a difference

Investors

A distinctive investment
delivering outstanding
performance and
superior returns

Regulators

Exemplary governance
and ethics wherever
we are

Contents
Standard Chartered is built on teamwork,
partnership and the diversity of our people.

Standard Chartered employs almost 60,000 people worldwide, representing over 100
nationalities. Today, our top management is made up of over 50 nationalities. Diversity and
Inclusion lies at the heart of our values and is integral to our journey to become the world\u2019s
best international bank. Our diverse teams help to fuel creativity and innovation, supporting the
development of innovative products and services for our customers. Diversity and Inclusion is a
fundamental part of the Group\u2019s culture and remains a long-term priority for Standard Chartered.

\ue00016 Driving performance
forward
\ue00024 Sustainability in action
\ue00020 People on the move

\u00a9 Standard Chartered PLC. All rights reserved. The STANDARD CHARTERED word mark, its logo device and associated product brand names are owned by Standard Chartered PLC
and centrally licensed to its operating entities. Registered Office: 1 Aldermanbury Square, London EC2V 7SB. Telephone +44 (0) 20 7280 7500.
Principal place of business in Hong Kong: 32nd Floor, 4-4a Des Voeux Road, Central, Hong Kong. Registered in England No. 966425.

For more information visit
www.standardchartered.com
Customers
Passionate about our
customers\u2019 success,
delighting them with the
quality of our service
tradeflo
Global
Emerging Trade Corridors
\ue000Asia and Africa are forging a mutually

beneficial relationship. There is strong demand
from Asia for a range of commodities
exported from Africa. Africa\u2019s growing demand
for manufactured goods makes Asia a natural
trading partner

\ue000The World Bank estimates that China
spent more than $10 billion on infrastructure
projects in Africa in 2006

Africa-China trade
soared nearly tenfold
in seven years to

$55.5bn
in 2006
Africa
Middle
East
Africa
Central
Asia
Latin
America
Asia
1.9
2.7
9.4
22
32.4
China\u2019s oil suppliers
(million tonnes)
\ue000High oil prices have allowed the Middle East to
overtake Asia as the largest trade surplus region
in the world, estimated at $216 billion in 2005
\ue000The migration of expatriates into the Gulf

Cooperation Council states from elsewhere in the
Middle East, South Asia and South East Asia is
also driving activity \u2013 remittances generated by
these expatriates reached $59 billion in 2005,
accounting for almost 25% of world remittances

Largest trade surplus
in the world of
$216bn
in 2005
Middle East
05
04
03
02
01
Middle East
Asia
Africa
65
116
3
64
152
5
92
164
14
123
169
20
216
180
48
Global trade surpluses by region
($ billion)
\ue000Intra-Asia trade is double the size of
Asia-US trade
\ue000China is the single most important driver
of intra-Asia trade
\ue000The outlook for trade within Asia is favourable,
with the Association of Southeast Asian
Nations (ASEAN) having committed to a
European-style free trade agreement by 2015
\ue000Asia is also playing a leading role in the
globalisation of capital markets
\ue000In 2006, Hong Kong was the single largest

global centre for initial public offering (IPO) activity, accounting for 17% of IPO capital raised worldwide, followed by London and New York

\ue000Two out of the three largest IPOs in 2006 were
raised on the Hong Kong Stock Exchange
Hong Kong
accounted for
17%
of global IPO
activity in 2006
06
05
04
03
02
Global trade growth
*Estimated
Intra-Asian trade growth
5
10
16
20
22
27
14
19
11
19
*
Growth of intra-Asian trade outstrips
global trade(% growth)
Asia Pacific

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