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Standard Chartered H1 profit up 31 percent

Staff Writer | July 31, 2018
Standard Chartered said that its first half earnings rose more than 31 per cent.
Standard Chartered
Standard Chartered   The group performed steadily in the first half
The lender, which is based in London, but generates much of its revenue in Asia, said that its profit was $1.59 billion in the first six months of 2018, compared with a profit of $1.21 billion a year earlier.

“The group performed steadily in the first half, with encouraging progress on several fronts,” Winters said in a news release. “Income from key products continues to grow strongly, we are investing in exciting new digital and other transformative initiatives and our strengthened risk discipline is paying off.”

Revenue increased 6 per cent to $7.6 billion, driven by a double-digit pre-tax profit gains in its corporate and institutional and retail banking businesses. That compared with revenue of $7.2 billion in the first half of 2017.