Steering Standard Chartered towards better profitability has been beset by self-imposed and wider economic obstacles. Slow progress has embedded a steep discount in the shares against the value of the bank’s own assets and has made the emerging markets-focused lender an inevitable, perennial takeover target.
The emergence of a potential bid from First Abu Dhabi Bank last week has pushed Standard Chartered’s shares to an almost three-year high, but they still look cheap. The United Arab Emirates-based lender walked away after running the rule over the bank, but Standard Chartered remains in play for another suitor.
The FTSE 100 group’s valuation has long trailed both its London-listed peers and Asia-focused rivals. That has invited talk that it is ripe for acquisition, either by a western
