Standard Chartered (OTC:)’s CEO, Bill Winters, expressed his view at the Future Investment Initiative conference in Riyadh, also known as ‘Davos in the Desert’, that ongoing global conflicts are unlikely to significantly affect the global economy. His comments come amidst various international disputes including those in Ukraine, Israel/Palestine, and open fighting between Israel and Hamas.
Winters drew parallels between these conflicts and other global issues such as the incursions by the Wagner group in Sahel. Despite the devastating consequences of these conflicts, including the displacement of millions of people and widespread poverty and misery, Winters emphasized that they have minimal bearing on key economic factors like interest rates, commodity prices, or travel abilities.
Instead, he identified borrowing interest rates and inflation as more immediate worldwide economic concerns. His views were expressed at the FII conference, an event supported by Saudi Arabia’s sovereign wealth fund and compared to the World Economic Forum’s yearly summits. This gathering continues to attract leading financiers despite Middle East tensions.
Winters has been at the helm of Standard Chartered since 2015, following a long-standing 26-year tenure at JP Morgan. Under his leadership, the company has seen significant growth. According to InvestingPro data, Standard Chartered’s market cap stands at 22957.91M USD. The company’s revenue growth has been accelerating, with a 12.08% growth in the last twelve months and a quarterly growth of 14.33% in FY2023.Q2. The company’s operating income margin stands at 30.89%, indicating a strong financial performance.
InvestingPro Tips suggest that Standard Chartered’s strong earnings allow management to continue dividend payments. In fact, the company has raised its dividend for three consecutive years, with a dividend growth of 77.58% in the last twelve months, according to InvestingPro data. The company’s P/E ratio stands at 8.83, and it’s trading at a low P/E ratio relative to near-term earnings growth, making it an attractive investment.
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