Standard Chartered Bank PLC (Stanchart) has 100,000 shares in issue at the beginning of 2020. On 30^th June 2020, the bank issues 50,000 more shares at full market price of K2.3. The nominal price per share of the initial 100,000 shares was K1. The 2020 earnings before tax were K250,000 (2019: K330,000), with an effective tax rate of 30%.

REQUIRED:

Analyse Stancharts performance for 2020 with reference to the following question.

1. Calculate the earnings per share (EPS) as at 31^st December 2019 and 2020 correct to two decimal places for Stanchart.
2. Explain Stancharts performance in 2020.