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Standard Chartered Profits Fall

Standard Chartered posted a 46% drop in pre tax profit after a fall in income in the first half of the year. Income from the private bank was down 10% year on year but 7% higher than the previous half.

Standard Chartered Private Bank is investing $250 million to upgrade underlying technology, banking platform and increase the number of relationship managers. They have added almost 500 relationships in the first half of the year.

News Source: Finews Asia

 

About Standard Chartered

Standard Chartered Bank
Standard Chartered Bank

Standard Chartered Bank (LSE:STAN) was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa. Operating in around 67 markets around the world, Standard Chartered Bank provides a wide-range of products and services for personal and business customers and generates more than 90 percent of income and profits from Asia, Africa, and Middle East.

  • Origin : London, UK
  • Assets : $ 640.48 billion
  • Revenue : $ 15.29 billion
  • Employees : 84,000

Official Website: www.sc.com

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News & Media: Press Release

Updated on 8th August 2016



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