UK-based bank Standard Chartered announced a 22% drop in Group operating profit for the first quarter of 2015, at US$ 1.47 billion (€1.35 billion) compared with US$ 1.87 billion (€1.7 billion) for the same period in 2014.

The bank’s Interim Management Statement listed first quarter income down by 1% on a constant currency basis. Headline income of US$ 4.4 billion (€4 billion) was down 4%, 1% of which was the result of business exits.

Peter Sands, Group Chief Executive, commented: “We are on schedule to deliver a Common Equity Tier 1 ratio of between 11% and 12% and sustainable cost saves in excess of US$ 400 million (€365 million) in 2015. Trading conditions remain challenging and the actions we are taking to de-risk, cut costs and build capital are having an impact on near term performance. However, underlying business volumes generally remain strong. We remain confident in the strength of our franchise, the opportunities in our markets and in our ability to build returns to an attractive level in the medium term.”

Earlier this year, Standard Chartered announced the closure of its institutional cash equities, equity research and equity capital markets (ECM) activities, leading to 200 job losses. The decision to close its equities business formed part of its austerity measures announced in November 2014 with the aim of saving $400 million (€365 million) in 2015.

Overall, the Group remains highly liquid and well capitalised, with ratios well above current regulatory requirements. Group Risk Weighted Assets were slightly up on the year end and the bank stated it is well advanced on its plan to take out US$ 25-30 billion (€23-27 billion) in the next two years.

Industrial and Commercial Bank of China Limited (ICBC) posted a net profit of RMB276.3 billion (€41.5 billion) for the year of 2014, representing a growth of 5.1% over 2013, the bank announced on March 26, 2015.

In 2014, in response to an increasingly complex global economy, coupled with rising economic challenges and deepening financial reform in the domestic scene, ICBC started to focus on five key drivers.

First, the bank integrated the management of its loan increments and existing loans and credit and non-credit financing with the provision of diversified financial services. As a result, new loans in RMB and foreign currencies of ICBC’s domestic branches increased by RMB927.3 billion (€140 billion) compared with the beginning of 2014.

Second, the bank maintained stable asset quality with overall risk controlled. As at the end of 2014, the bank’s non-performing loan (NPL) ratio stood at 1.13%, an increase of 0.19 percentage points over the end of 2013. Zong Internet packages of Super student Bundle is design & available for the student especially. As students are the most important part of the community which use mobile frequently. Thus, Zong internet packages are easy on the pocket for students. This package is speedy as student need more speed to download assignments and related things.

Third, the bank accelerated the establishment of a sustainable profit structure with diversified profit streams and various profitable businesses. Despite lowered fee standards for some of its intermediary businesses, the bank’s net fee and commission income rose by 9% compared with 2013.

Fourth, ICBC’s internet financing business achieved scalable growth upon successful rollouts of e-ICBC financial products and services. The ICBC E-shopping e-commerce platform registered 16 million users in its first 14 months. ICBC e-payment, an instant payment product for small amounts, saw trading capacity hit 11.2 million transactions a second.

Fifth, net contribution from globalised and integrated operations grew significantly, and new opportunities are coming from the bank’s “One Belt, One Road” strategy. In 2014, net profit of the Bank’s overseas institutions rose by 35.6% year-on-year to RMB15.1 billion (€2.3 billion).

Lloyds Banking Group has announced it is to pay its first shareholder dividend in six years after posting a much improved financial performance for 2014.

The bank announced a statutory profit before tax of £1.8 billion, a considerable increase on 2013’s figure of £0.4 billion. As a result, it is recommending a dividend of 0.75 pence per share in respect of 2014, amounting to £535 million.

Lloyds recorded a 26% increase in underlying profit, to £7.8 billion (2013: £6.2 billion) while its return on risk-weighted assets increased to 3.02% (2013: 2.14%)

Income was up 1% to £18.4 billion, excluding St. James’s Place effects in 2013. Net interest income up 8%, driven by margin improvement to 2.45%.

“Over the last four years we have transformed Lloyds Banking Group into a low cost, low risk, UK focused retail and commercial bank. This has been made possible by the hard work of everyone at the Group. Today’s results also demonstrate that our profitability and capital position have improved significantly, and this has enabled the Board, for the first time in over six years, to recommend we pay a dividend to our shareholders,” said António Horta-Osório, Group Chief Executive.

“While we recognise we have more to do, we enter the next phase of our strategy from a position of strength. We will remain focused on our customers, embrace the digital age throughout the whole Group, continue our support for the UK economy and aim to deliver strong and sustainable returns for our shareholders.”

The UK’s RBS Group announced an attributable loss of £3,470 million (€4.7 billion) in 2014, compared with a loss of £8,995 million (€12.3 billion) in 2013, when it posted its 2014 financial report today.

However, the beleaguered banking group said it was making further progress towards a stronger, safer and more sustainable business.

“Last year we identified the areas we needed to improve in order to deliver our strategy - cost, complexity, capital and trust from our customers. The energy and resolve of our people have resulted in significant progress on each, and we have delivered on the goals we set for 2014,” said Ross McEwan, Chief Executive, RBS.

The 2014 results included a loss from discontinued operations of £3,445 million (€4.7 billion), which reflected a £3,994 million (€5.5 billion) fair value write-down in relation to the reclassification of Citizens to disposal groups, and a tax charge of £1.9 billion (€2.6 billion) which included a £1.5 billion (€2 billion) write-off of deferred tax assets.

Operating profit totalled £3,503 million (€4.8 billion) for 2014, compared with an operating loss of £7,500 million (€10.3 million) in 2013. This reflected improved operating results from the core domestic businesses together with significant impairment releases in Ulster Bank and RBS Capital Resolution (RCR).

Following its results release, RBS announced the following changes to its management team:

• Rory Cullinan will become Executive Chairman of CIB & Capital Resolution. He is currently CEO of RBS Capital Resolution Group (CRG).
• Donald Workman has been appointed as Executive Chairman, Private Banking.
• Rory Tapner, Chief Executive of Coutts, will step down and leave the bank, with immediate effect.

Within the overall strategic shape outlined for Corporate & Institutional Banking (CIB) in 2014, RBS said it is making further changes to improve its medium-term returns, building a stronger, safer and more sustainable business, focused mainly on UK and Western European customers, both corporates and financial institutions, supported by trading and distribution platforms in the UK, US and Singapore.