Arab Today, arab today standard posts record h1 net profit
Last Updated : GMT 02:58:58
Arab Today, arab today
Arab Today, arab today

Standard posts record H1 net profit

Arab Today, arab today

Arab Today, arab today Standard posts record H1 net profit

Hong Kong - AFP

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 regulatory environment\". He said the London-based bank was in a good position to invest for long-term growth. \"Given the opportunities we see arising from the turbulence and the disarray of our competitors, we are stepping up the pace of investment,\" he said. \"Most of this is to fuel organic growth. Whilst we do look out for acquisitions to build scale, get market access, or gain critical capabilities, the primary driver of growth is organic investment in our businesses.\" The bank\'s branch networks in its key markets of China, India and Africa would expand in the coming months, with the opening of its 100th outlets in China and India by early next year. In Africa, Sands said the bank was \"significantly stepping up the pace of network expansion\", with 250 branches expected in the next two years from the present 183 in 14 markets. Standard Chartered, which survived the global financial crisis without state assistance, has a strong footprint across emerging markets. Its 2011 net profit rose 12 percent year-on-year to a record 3.53 billion euros ($4.75 billion), boosted by strong performance in developing economies.

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 posts record h1 net profit Arab Today, arab today standard posts record h1 net profit

 



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 posts record h1 net profit Arab Today, arab today standard posts record h1 net profit

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
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
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

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

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
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