Standard Chartered Reports Profit of $1.9 Billion for 1st Half 2017
Standard Chartered reported profit of $1.9 billion for 1st half 2017. Wealth Management’s business generated $658 billion in income, contributing 37.96% to total group income.
” Assets under Management at $58.8 billion “
For Private Banking, Wealth Management revenue rose 7% at $144 million with Assets under Management at $58.8 billion, compared to $54.2 billion on 31st Dec 2016.
Bill Winters, Group Chief Executive
“We have had an encouraging start to 2017, making steady progress against our strategic objectives. Our increased profitability and improved asset quality over the last year reflect the success of this approach: we are stronger, leaner and becoming more efficient. We go into the second half of the year confident in our resilience and in our ability to generate better value for our clients and shareholders.”
About Standard Chartered
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
News & Media: Press Release
Updated on 8th August 2016