Standard Chartered posts record H1 net profit
Standard Chartered on Wednesday said its first-half net profit rose
12 percent to a record high thanks to strong revenue growth, despite an
increasingly challenged economic environment.
The Asia-focused emerging market bank’s net profit for the six months
to June 30 rose to $2.81 billion compared to $2.52 billion in the same
period in 2011, it said in a statement. The result is above the average
forecast of US$2.7 billion, according to a poll by Dow Jones Newswires.
Revenue rose to $9.51 billion from $8.76 billion a year earlier.
Chief Executive Peter Sands said the lender was “on course to deliver on
its target of double-digit revenue growth” despite the US dollar’s
strength against Asian currencies and an “increasingly complex