Standard Chartered reports record results
Standard Chartered PLC has unveiled record breaking results for the first half of 2009, with income of US$7.96bn, a rise of 14%.
In addition the bank saw operating pre-tax income up 10% to $2.84bn.
During the first six months of 2008 the bank made pre-tax profits of $2.5bn, $340m less than the latest figures.
The core of the firm’s success was the 37% rise in income delivered by the Wholesale Banking arm which took advantage of the volatile situation to enhance its market share.
Wholesale Banking saw income of $5.03bn, with operating profits surging upwards by 36% to $2.25bn.
Standard Chartered directors have announced that the dividend is to increase by 10% to 21.23 cents per share.
Group Chief Executive Peter Sands has expressed his delight at the record profits and income, coupled with the firm enjoying a strong balance sheet to take advantage of the present operating environment.
Category: Banking News, Financial Reports News
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