Arab Today, arab today standard chartered\s net profit up
Last Updated : GMT 21:21:01
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

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
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Egyptair and Etihad Airways sign partnership

GMT 21:08 2017 Wednesday ,01 March

Egyptair and Etihad Airways sign partnership
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN report confirms war crimes were committed

GMT 20:43 2017 Wednesday ,01 March

UN report confirms war crimes were committed
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
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