** Unless planned cost cuts help restore StandardChartered's battered ROE picking up the bank's sharestrading at their cheapest in more than 5 years may prove to be acostly mistake.
** Shares off day's lows but were down by as much as 10 pctafter bank reported a surge in bad loans. Chart:http://link.reuters.com/dun33w
** Fall takes shares to lows not seen since April 2009 extending a 2-yr downtrend. Chart: http://link.reuters.com/tan33w
** P/B multiple has halved since & StanChart now at adiscount vs larger rival HSBC for the first time in 5 years.Chart on valuations: http://link.reuters.com/xan33w
** The bank's projected ROE has fallen below 2008-09 levelswhile forecasts for forward 12-mo rev growth have come off for11 straight months. Chart: http://link.reuters.com/run33w
** Bank says it will step up its restructuring plan and aimsto cut $400 mln more from costs next year.
** Details on what the cost cuts entail likely only nextmonth. (RM: alasdair.pal.thomsonreuters.com@reuters.net)