Arab Today, arab today standard chartered\s net profit up
Last Updated : GMT 12:48:35
Arab Today, arab today
Arab Today, arab today

Standard Chartered\'s net profit up

Arab Today, arab today

Arab Today, arab today Standard Chartered\'s net profit up

Dubai - Arabstoday

Standard Chartered yesterday reported its ninth consecutive year of record profits. The bank\'s net profit increased 12 per cent to $4.75 billion (Dh17.45 billion) last year from $4.23 billion in 2010, while operating income was up 10 per cent to $17.6 billion and the operating profit increased 11 per cent to $6.78 billion. Its continued performance is underpinned by strong capital and liquidity and multiple sources of income across the faster growing markets of Asia, Africa and the Middle East, the bank said in a statement. \"Our capital and funding strength allows us to remain open for business and win more market share. We see huge opportunities in our core markets of Asia, Africa and the Middle East,\" Peter Sands, Group Chief Executive, said. The Middle East and South Asia (Mesa), which includes the UAE, reported a $41 million (4 per cent) decline in working profit to $898 millionr. Loan impairment ended at $197 million, and continues to reflect a small number of specific provisions on historically troubled assets, the bank said. Mesa operating profit fell 10 per cent to $688 million as operating expenses were up $61 million, or 11 per cent, to $598 million, reflecting staff and investment expenditure. The bank\'s UAE income grew 3 per cent, with growth in the commodities and rates businesses. This offsets a fall in UAE client income, which was impacted by lending margin compression and reducing loan balances following certain big ticket repayments. Islamic banking continued to be a key focus, with revenues in UAE up 65 per cent compared to 2010. \"The UAE is an important market for the bank and we will continue to focus on delivering the right banking solutions for our customers and clients,\" Jonathan Morris, CEO of Standard Chartered in the UAE, said. The group now has 24 markets generating income and 14 producing profits of more than $100 million. The bank continues to report strong capitalisation levels. The group has no direct sovereign exposure to Greece, Ireland, Italy, Portugal or Spain. From gulfnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today standard chartered\s net profit up Arab Today, arab today standard chartered\s net profit up

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today standard chartered\s net profit up Arab Today, arab today standard chartered\s net profit up

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday