FINANCIAL INSTITUTIONS

CREDIT OPINION29 May 2020

Update

RATINGS

Standard Chartered BankDomicile United Kingdom

Long Term CRR A1

Type LT Counterparty RiskRating - Fgn Curr

Outlook Not Assigned

Long Term Debt A1

Type Senior Unsecured - FgnCurr

Outlook Stable

Long Term Deposit A1

Type LT Bank Deposits - FgnCurr

Outlook Stable

Please see the ratings section at the end of this reportfor more information. The ratings and outlook shownreflect information as of the publication date.

Analyst Contacts

Srikanth Vadlamani +65.6398.8336VP-Sr Credit Officersrikanth.vadlamani@moodys.com

Alessandro Roccati +44.20.7772.1603Senior Vice Presidentalessandro.roccati@moodys.com

Randall Ho +65.6311.2603Associate Analystrandall.ho@moodys.com

Graeme Knowd +65.6311.2629MD-Bankinggraeme.knowd@moodys.com

Standard Chartered BankUpdate to credit analysis

SummaryStandard Chartered Bank's (SCB) bank deposit and senior unsecured ratings of A1 arebased on three inputs: (1) the bank's baa2 Baseline Credit Assessment (BCA); (2) a one-notch uplift because of our assessment of a very high probability of affiliate support fromStandard Chartered PLC (SCPLC, A2 stable, baa1); and (3) a three-notch uplift because of ourAdvanced Loss Given Failure (LGF) analysis. The ratings do not include any uplift for externalsupport.

SCB's BCA of baa2 is one notch lower than SCPLC's notional BCA of baa1, and reflects thebank’s stable asset quality, although structurally weaker after removing the bank’s GreaterChina and North Asia (GCNA) operations. The BCA also takes into account its weakerprofitability because of higher operating and credit costs and weaker funding after removal ofthe GCNA operations. These factors are balanced by its strong capital and liquidity.

Following the completion of legal restructuring of the group, Standard Chartered Bank (HongKong) Limited (SCBHK, A1 stable, a3) has ceased to be a subsidiary of SCB as it is now fullyowned by SCPLC. SCBHK’s credit profile is stronger than that of the overall group, and thechange in the ownership structure results in SCB's standalone credit profile becoming weaker.

Exhibit 1

Rating Scorecard - Key financial ratios

4.6% 15.2%

-0.8%

37.3% 53.7%

-10%

0%

10%

20%

30%

40%

50%

60%

-10%

0%

10%

20%

30%

40%

50%

60%

Asset Risk:Problem Loans/

Gross Loans

Capital:Tangible Common

Equity/Risk-WeightedAssets

Profitability:Net Income/

Tangible Assets

Funding Structure:Market Funds/

Tangible BankingAssets

Liquid Resources:Liquid BankingAssets/TangibleBanking Assets

Solvency Factors (LHS) Liquidity Factors (RHS)

Standard Chartered Bank (BCA: baa2) Median baa2-rated banks

So

lve

ncy F

acto

rs

Liq

uid

ity F

acto

rs

For problem loan ratio and profitability ratio, we present the weaker of (1) the average of the latest three year-end ratios, as wellas the most recent intra-year ratio; or (2) the latest reported figure. For the capital ratio, we use the latest reported figure. For thefunding structure and liquid asset ratios, we present the latest year-end figures. This is consistent with the starting point ratios inthe scorecard.Source: Moody's Financial Metrics

MOODY'S INVESTORS SERVICE FINANCIAL INSTITUTIONS

Credit strengths

» Strong capital level supported by low capital consumption

» The retention of strong liquidity, despite the removal of the GCNA operations

Credit challenges

» Weak profitability, driven by high costs and weak revenue generation

» Structurally weaker asset quality following the removal of the GCNA operations

OutlookSCB's ratings carry a stable outlook, reflecting our view that SCB's credit fundamentals will remain robust over the next 12-18 months.

Factors that could lead to an upgradeSCB's BCA and ratings could be upgraded if the bank's profitability were to significantly increase from the current levels.

Factors that could lead to a downgradeSCB’s BCA and ratings could be downgraded if its asset quality were to significantly deteriorate again. We could also downgrade theBCA if its profitability falls to the 2016 levels, without the prospect of a swift recovery.

A change in SCPLC's BCA would likely affect all the ratings assigned to SCB. In addition, we could downgrade SCB's bank deposit andsenior unsecured ratings if the volume of junior instruments outstanding decreases significantly, reducing the amount of loss protectionavailable to more senior instruments.

Key indicators

Exhibit 2

Standard Chartered Bank (Consolidated Financials) [1]

12-192 12-182 12-172 12-162 12-152 CAGR/Avg.3

Total Assets (USD Billion) 438.9 632.1 609.9 578.2 572.4 (6.4)4

Tangible Common Equity (USD Billion) 28.3 41.6 43.6 40.8 36.8 (6.4)4

Problem Loans / Gross Loans (%) 4.6 3.2 3.1 3.7 4.8 3.95

Tangible Common Equity / Risk Weighted Assets (%) 15.2 16.2 15.4 15.2 12.3 14.96

Problem Loans / (Tangible Common Equity + Loan Loss Reserve) (%) 20.0 17.6 18.0 20.5 29.1 21.05

Net Interest Margin (%) 0.9 0.8 1.5 1.4 1.7 1.25

PPI / Average RWA (%) 1.0 0.4 1.5 1.2 1.3 1.16

Net Income / Tangible Assets (%) -0.8 0.2 0.3 0.0 -0.3 -0.15

Cost / Income Ratio (%) 75.0 88.4 71.7 74.0 73.5 76.55

Market Funds / Tangible Banking Assets (%) 37.3 23.8 24.5 25.9 23.7 27.05

Liquid Banking Assets / Tangible Banking Assets (%) 53.7 50.1 45.3 46.1 45.9 48.25

Gross Loans / Due to Customers (%) 68.6 67.3 77.7 76.6 75.3 73.15

[1]All figures and ratios are adjusted using Moody's standard adjustments. [2]Basel III - fully loaded or transitional phase-in; IFRS. [3]May include rounding differences because of the scaleof reported amounts. [4]Compound annual growth rate (%) based on the periods for the latest accounting regime. [5]Simple average of periods for the latest accounting regime. [6]Simpleaverage of Basel III periods.Sources: Moody's Investors Service and company filings

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page onwww.moodys.com for the most updated credit rating action information and rating history.

2 29 May 2020 Standard Chartered Bank: Update to credit analysis

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ProfileStandard Chartered Bank (SCB) is one of the two main operating subsidiaries of the Standard Chartered Group, along with StandardChartered Bank (Hong Kong) Limited (SCBHK).

SCB provides banking and other financial activities and has operations across Asia, the Middle East, Africa, Europe and the Americathrough its network of branches and outlets.

In 2019, Standard Chartered Group completed an internal restructuring to change the group's legal organizational structure bytransferring SCBHK under Standard Chartered PLC (SCPLC) from SCB. Furthermore, the group's GCNA operations, namely in China,Korea and Taiwan, which were previously held by SCB, are now held directly by SCBHK.

SCPLC continues to be the holding company, as well as the listed entity, of the Standard Chartered Group.

Management expects the reorganization to lead to better liquidity and capital management for the overall group by better leveragingthe group's strong funding franchise in Hong Kong.

Exhibit 3

Standard Chartered Group's corporate structure after the reorganization

Source: SCPLC

3 29 May 2020 Standard Chartered Bank: Update to credit analysis

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Detailed credit considerationsAsset quality will be stable, although structurally weaker after the removal of the GCNA operationsWe assign an adjusted baa3 score to SCB's Asset Risk to reflect the higher risk in its loan book after the restructuring. At the same time,our assessment also factors in the potential market risks, given the significant financial market-related businesses of the bank.

After a deterioration in 2015, SCB’s asset quality has stabilized, as the group proactively recognized legacy credit issues whilesignificantly de-risking its loan book over the last two years. Nevertheless, we expect impaired loans to increase in 2020 as operatingconditions in its key markets deteriorate because of disruptions caused by the coronavirus outbreak.

SCB's loan book composition after removing the GCNA operations is riskier than that of the group. SCB has a much higher share ofcorporate and investment banking loans than the overall group, while the overall group's loan composition benefits from a higher shareof low-risk retail mortgage loans in GCNA. Mortgages accounted for 42%1 of loans in GCNA, compared with 29% for the overall groupas of year-end 2019.

SCB's impaired loan ratio (post restructuring) was 4.6% as of year-end 2019, higher than the pre-restructuring level of 3.2% as of year-end 2018. The ratio was also higher compared with the 2.7% ratio for the overall group as of year-end 2019.

SCB's historical asset-quality performance (after removing the GCNA operations) was also poorer than that of the overall group, withthis differential being particularly stark over 2014-16 when the bank was going through significant asset-quality stress. Between 2014and 2016, the group's impaired loan ratios (as a percentage of gross loans) averaged 10% for Africa and the Middle East, and 4% forASEAN and South Asia, much higher than the 1% recorded for GCNA. However, we expect asset quality to be structurally better thanthe historical track record, given the changes the bank has made in the underwriting standards. The bank will focus on its higher creditquality network business clients.

Capital to remain a key strength despite weak profitabilityWe assign an adjusted a2 score to SCB's Capital to reflect the lower level of capital following the removal of the GCNA operations.

SCB’s Common Equity Tier 1 (CET1) capital ratio was 12.4%, lower than the overall group's CET1 capital ratio of 13.8%, after theremoval of the GCNA operations.

Nevertheless, we expect SCB's capital ratio to remain stable at 12%-13% in the next 12-18 months and will remain a key creditstrength. While the bank’s internal capital generation is very low, given its weak profitability, low risk-weighted asset (RWA) growth willsupport organic capital accretion.

Profitability to remain a key credit weaknessWe assign an adjusted ba3 score to SCB's Profitability to reflect our expectation that the sustainable profitability of the bank willincrease over a period of time, driven by an improving operating leverage. However, profitability in 2020 will be negatively impacted byan increase in credit costs due to the coronavirus related impact, and will see a decline compared to 2019.

Structurally, SCB’s profitability is weaker after the removal of the GCNA operations. The bank's ratio of underlying profit (beforerestructuring costs) before tax to total assets was 0.4% in 2019, lower than 0.9% for the GCNA operations. SCB's ratio of net incometo total assets declined to -0.8% in 2019 from 0.2% in 2018, mainly because of losses from discontinued operations amounting to$4.6 billion as a result of group reorganization.

We expect SCB's profitability to be supported in the medium term on account of positive operating leverage materializing. However,given our expectation of group revenue growth of only around 5%-7%, this will be a gradual improvement.

SCB's low profitability is a function of relatively higher credit costs and operating expenses. The bank's loan-loss provisions/gross loansin 2019 was also much higher at 45 basis points than the 14 basis points in GCNA. While credit costs are higher than those in GCNA,we do not see the sustainable level of credit costs reducing from the current levels as they are already low. We expect SCB's credit costswill increase even further in 2020 as operating conditions deteriorate because of disruptions from the coronavirus outbreak.

The bank's cost-to-income ratio was 75% in 2019, higher than the 61% reported for the GCNA operations.

4 29 May 2020 Standard Chartered Bank: Update to credit analysis

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Liquidity will remain strong, while funding is significantly weaker after the removal of the GCNA operationsWe assign an adjusted ba2 Funding Structure score to reflect its weaker funding and inferior deposit quality after the removal of GCNAoperations.

The share of market funds were higher at SCB compared with the overall group as most of the market funding is done out of London.SCB's market fund ratio was 37% compared with 26% of the overall group as of year-end 2019. Furthermore, the quality of deposits atSCB is significantly inferior to that of the overall group.

A smaller proportion of SCB's deposits are retail deposits following the restructuring, as most retail deposits are held in the group'sGCNA operations.

Nevertheless, liquidity continues to be a key credit strength for SCB after the restructuring. While a part of its role as the liquiditycenter of the group is diminished following the removal of the Hong Kong operations, SCB still retains a significant part of the overallgroup's liquidity. SCB's ratio of liquid assets to tangible assets was very high at 54% as of year-end 2019.

We assign an adjusted a1 Liquid Resources score to SCB at the same level as that of SCPLC, based on its strong liquidity.

Macro Profile of Strong is in line with SCB's expected loan distributionThe Macro Profile for SCB is based on our estimates of loan distribution after removing the GCNA operations. This approach isconsistent with how we determine the Macro Profile for SCPLC.

A significant proportion of the assets held in geographies such as the UK and the Americas are high-quality liquid assets that carrylow risk weights, which results in a difference in asset distribution and RWA distribution. RWA distribution is a better proxy for riskdistribution and is broadly mirrored in SCB’s loan distribution.

Environmental, social and governance considerationsIn line with our general view for the banking sector, SCB has a low exposure to environmental risks (see our environmental risk heatmap for further information) and a moderate exposure to social risks (see our social risks heat map for further information). Weestimate SCPLC's exposure to commodity loans2 was around 8% of its net loans as of year-end 2019. To mitigate potential carbontransition risks, the group has reduced risk appetite to carbon-intensive sectors via restrictions on new coal mining clients and projects,as well as halting trading of coal-based derivative products.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices and asset-pricedeclines are creating a severe and extensive credit shock across many sectors, regions and markets, including the UK banking sector.We regard the coronavirus outbreak as a social risk under our ESG framework, given the substantial implications for public health andsafety.

Governance is highly relevant for SCB, as it is to all participants in the banking industry. SCPLC has been affected by a range ofgovernance shortfalls, which revealed the lapse of anti-money laundering controls and violations of international sanctions that tookplace before 2012. These governance shortcomings led to legal investigations by the US and UK authorities for financial crime-relatedactivities, and subsequent legal settlements amounting to $1.1 billion in second quarter 2019, which hurt the bank's profitability.However, these are largely legacy issues, and the bank has taken significant measures, including large investments in systems, toimprove internal controls over the past five years, as recognized by various regulators.

Support and structural considerationsAffiliate supportWe incorporate a very high probability of affiliate support from SCPLC, which results in a one-notch uplift to SCB's baa1 Adjusted BCAfrom baa2 BCA. Our support assumption takes into account SCB's importance as a critical part of the group, accounting for around68% of the overall group's assets as of year-end 2019.

Loss Given Failure (LGF) analysisSCB is subject to the European Union's directive on bank recovery and resolution, which we consider an operational resolution regime.

5 29 May 2020 Standard Chartered Bank: Update to credit analysis

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We assume a residual tangible common equity at 3% and post-failure losses at 8% of tangible banking assets, a 25% runoff injunior wholesale deposits, and a 5% runoff in preferred deposits. We assign a probability of 25% to deposits, in preference to seniorunsecured debt.

The balance sheet at failure, which forms the basis for our Advanced LGF analysis, includes the combined balance sheet of SCPLC andSCB. At the same time, we exclude deposits and assets owned by the group's overseas subsidiaries, given the fact that they lie outsidethe scope of the UK authorities.

SCB's instruments ratings are based on the group's forecast liability structure as of year-end 2022 and are consequently notched off thegroup's notional BCA of baa1.

SCB's long-term deposit and senior unsecured debt ratings of A1, in particular, reflect the group's unique corporate profile and liabilitystructure. This structure features a substantial amount of securities that could be bailed in during a resolution to the benefit of moresenior creditors. As a result, the expected loss for depositors and senior creditors in resolution is reduced.

SCB's Baa2 subordinated debt rating reflects our Advanced LGF analysis, which indicates a moderate loss given failure.

SCB's Baa3(hyb) junior subordinated debt ratings reflect (1) our Advanced LGF analysis, which indicates a high loss given failure; and (2)an additional notching to capture the risk of differential probabilities of default across different instruments.

Government support considerationsSCB's ratings are based solely on its Adjusted BCA and our LGF analysis. These ratings do not include any uplift for external support.

The current policy direction in the UK clearly suggests that the Government of United Kingdom (Aa2 negative) is unlikely to provideextraordinary support to banks in times of need. Moreover, aside from its headquarters in the UK, the group does not operate amaterial retail business in the country, thereby making it even less likely that the government would extend support to the group.

While SCB does operate in other jurisdictions with more supportive regulatory approaches, we would expect any support provided tobe ring-fenced to the group's local operations in those jurisdictions. Consequently, while we include market-specific systemic support inthe ratings of a number of SCB's subsidiaries and affiliates, such support is not taken into account in rating the UK-incorporated SCB.

Counterparty Risk (CR) AssessmentThe CR Assessment is an opinion of how counterparty obligations are likely to be treated if a bank fails and are distinct from debt anddeposit ratings in that they (1) consider only the risk of default rather than both the likelihood of default and the expected financial losssuffered in the event of default, and (2) apply to counterparty obligations and contractual commitments rather than debt or depositinstruments. The CR Assessment is an opinion of the counterparty risk related to a bank's covered bonds, contractual performanceobligations (servicing), derivatives (for example, swaps), letters of credit, guarantees and liquidity facilities.

SCB's CR Assessment is positioned at A1(cr)/P-1(cr)SCB's CR Assessment is positioned three notches above its BCA of baa1, based on the buffer against default provided to the seniorobligations represented by the CR Assessment by subordinated instruments. The main difference with our Advanced LGF approachused to determine instrument ratings is that the CR Assessment captures the probability of default on certain senior obligations, ratherthan the expected loss. Therefore, we focus purely on subordination and take no account of the volume of the instrument class.

Counterparty Risk Ratings (CRRs)CRRs are opinions of the ability of entities to honor the uncollateralized portion of non-debt counterparty financial liabilities (CRRliabilities) and also reflect the expected financial losses in the event such liabilities are not honored. CRR liabilities typically relate totransactions with unrelated parties. Examples of CRR liabilities include the uncollateralized portion of payables arising from derivativestransactions and the uncollateralized portion of liabilities under sale and repurchase agreements. CRRs are not applicable to fundingcommitments or other obligations associated with covered bonds, letters of credit, guarantees, servicer and trustee obligations, andother similar obligations that arise from a bank performing its essential operating functions.

6 29 May 2020 Standard Chartered Bank: Update to credit analysis

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SCB's CRRs are positioned at A1/P-1In assigning CRRs to SCB and its branches, our approach starts with the bank's Adjusted BCA and uses our existing Advanced LGFapproach, which takes into account the level of subordination to CRR liabilities in the bank's balance sheet and assumes a nominalvolume of such liabilities.

The CRRs for the rated bank subsidiaries and branches of SCB are three notches higher than the Adjusted BCA. Although SCB is likelyto have more than a nominal volume of CRR liabilities at failure, this has no impact on the ratings because the significant level ofsubordination below the CRR liabilities at SCB already provides the maximum amount of uplift allowed under our rating methodology.

In our view, secured counterparties to banks typically benefit from greater protections under insolvency laws and bank resolutionregimes than do senior unsecured creditors, and this benefit is likely to extend to the unsecured portion of such secured transactionsin most bank resolution regimes. We believe that, in many cases, regulators will use their discretion to allow a bank in resolution tocontinue to honor its CRR liabilities or to transfer those liabilities to another party who will honor them, in part because of the greatercomplexity of bailing in obligations that fluctuate with market prices and also because the regulator will typically seek to preservemuch of the bank’s operations as a going concern to maximize the value of the bank in resolution, to stabilize the bank quickly andto avoid contagion within the banking system. CRR liabilities at SCB and its rated branches, therefore, benefit from the subordinationprovided by more junior liabilities, including all unsecured debt obligations at SCPLC and SCB.

Methodology and scorecardAbout Moody’s Bank ScorecardOur scorecard is designed to capture, express and explain in summary form our Rating Committee's judgment. When read inconjunction with our research, a fulsome presentation of our judgment is expressed. As a result, the output of our scorecardmay materially differ from that suggested by raw data alone (though it has been calibrated to avoid the frequent need for strongdivergence). The scorecard output and the individual scores are discussed in rating committees and may be adjusted up or down toreflect conditions specific to each rated entity.

7 29 May 2020 Standard Chartered Bank: Update to credit analysis

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Rating methodology and scorecard factors

Exhibit 4

Standard Chartered Bank

Macro FactorsWeighted Macro Profile Strong 100%

Factor HistoricRatio

InitialScore

ExpectedTrend

Assigned Score Key driver #1 Key driver #2

SolvencyAsset RiskProblem Loans / Gross Loans 4.6% baa2 ←→ baa3 Long-run loss

performanceMarket risk

CapitalTangible Common Equity / Risk Weighted Assets(Basel III - transitional phase-in)

15.2% a1 ←→ a2 Capital retention Expected trend

ProfitabilityNet Income / Tangible Assets -0.8% caa1 ↑↑ ba3 Expected trend Return on assets

Combined Solvency Score baa2 baa2LiquidityFunding StructureMarket Funds / Tangible Banking Assets 37.3% ba3 ←→ ba2 Deposit quality

Liquid ResourcesLiquid Banking Assets / Tangible Banking Assets 53.7% aa3 ←→ a1 Stock of liquid assets Quality of liquid assets

Combined Liquidity Score baa2 baa2Financial Profile baa2Qualitative Adjustments Adjustment

Business Diversification 0Opacity and Complexity 0Corporate Behavior 0

Total Qualitative Adjustments 0Sovereign or Affiliate constraint Aa2BCA Scorecard-indicated Outcome - Range baa1 - baa3Assigned BCA baa2Affiliate Support notching 1Adjusted BCA baa1

Balance Sheet is not applicable.

8 29 May 2020 Standard Chartered Bank: Update to credit analysis

MOODY'S INVESTORS SERVICE FINANCIAL INSTITUTIONS

De Jure waterfall De Facto waterfall NotchingDebt ClassInstrumentvolume +

subordination

Sub-ordination

Instrumentvolume +

subordination

Sub-ordination

De Jure De FactoLGF

NotchingGuidance

vs.Adjusted

BCA

AssignedLGF

notching

AdditionalNotching

PreliminaryRating

Assessment

Counterparty Risk Rating - - - - - - - 3 0 a1Counterparty Risk Assessment - - - - - - - 3 0 a1 (cr)Deposits - - - - - - - 3 0 a1Senior unsecured bank debt - - - - - - - 3 0 a1Dated subordinated bank debt - - - - - - - -1 0 baa2Junior subordinated bank debt - - - - - - - -1 -1 baa3

Instrument Class Loss GivenFailure notching

Additionalnotching

Preliminary RatingAssessment

GovernmentSupport notching

Local CurrencyRating

ForeignCurrency

RatingCounterparty Risk Rating 3 0 a1 0 A1 A1Counterparty Risk Assessment 3 0 a1 (cr) 0 A1(cr)Deposits 3 0 a1 0 A1 A1Senior unsecured bank debt 3 0 a1 0 A1 A1Dated subordinated bank debt -1 0 baa2 0 Baa2Junior subordinated bank debt -1 -1 baa3 0 Baa3 (hyb)[1]Where dashes are shown for a particular factor (or sub-factor), the score is based on non-public information.Source: Moody’s Investors Service

9 29 May 2020 Standard Chartered Bank: Update to credit analysis

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Ratings

Exhibit 5

Category Moody's RatingSTANDARD CHARTERED BANK

Outlook StableCounterparty Risk Rating A1/P-1Bank Deposits A1/P-1Baseline Credit Assessment baa2Adjusted Baseline Credit Assessment baa1Counterparty Risk Assessment A1(cr)/P-1(cr)Senior Unsecured A1Subordinate Baa2Jr Subordinate -Dom Curr Baa3 (hyb)Other Short Term (P)P-1

PARENT: STANDARD CHARTERED PLC

Outlook StableBaseline Credit Assessment baa1Adjusted Baseline Credit Assessment baa1Senior Unsecured A2Subordinate Baa2Jr Subordinate Baa3 (hyb)Pref. Stock Non-cumulative Ba1 (hyb)

STANDARD CHARTERED BANK AG

Outlook StableCounterparty Risk Rating A1/P-1Bank Deposits A1/P-1Baseline Credit Assessment baa2Adjusted Baseline Credit Assessment baa1Counterparty Risk Assessment A1(cr)/P-1(cr)Issuer Rating A1ST Issuer Rating P-1

STANDARD CHARTERED BANK (SINGAPORE)LIMITED

Outlook StableCounterparty Risk Rating Aa3/P-1Bank Deposits A1/P-1Baseline Credit Assessment a3Adjusted Baseline Credit Assessment a3Counterparty Risk Assessment Aa3(cr)/P-1(cr)Issuer Rating A1Commercial Paper P-1

Source: Moody's Investors Service

Endnotes1 All figures relating to GCNA and other regional exposures are estimated on the basis of the group's annual report and data supplement.

2 Commodity loans consist of exposures to the energy and mining and quarrying sectors, as disclosed in its year-end 2019 annual report (page 181).

10 29 May 2020 Standard Chartered Bank: Update to credit analysis

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MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.

REPORT NUMBER 1217135

11 29 May 2020 Standard Chartered Bank: Update to credit analysis

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12 29 May 2020 Standard Chartered Bank: Update to credit analysis