Why Standard Chartered is 'less dependent' on Hong Kong vs other banks

Is it not worried about competition?

According to CLSA, unlike HSBC, StanChart has become progressively less dependent on Hong Kong in recent years, as more rapid growth in other market has diluted the relative importance of the territory to group profit growth.

Now around 22% of group profit - and thus the single largest country exposure - Hong Kong was regularly 30-40% in the late-1990s right until 2007.

Here's more from CLSA:

As we have noted, increased competition has - as with peers - hit StanChart’s profitability in hong Kong over the past two decades. However, StanChart has also achieved solid growth in its market share in selected banking lines.

Notably, StanChart overtook Hang Seng in mortgages in 2011 and in unsecured consumer credit in 2010. It now has close to the same share of deposits as Hang Seng, up from half of Hang Seng’s a decade ago.

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