Standard Chartered Profit to Rise by Double Digits

Tuesday, 28 Jun 2011 08:59 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Standard Chartered said income growth caught up with cost growth in the first half of this year, as belt-tightening helped reverse more than a year of expenses outpacing profit.

The Asia-focused bank also expected profit before tax to rise by a double-digit figure in the first half of the year, helped by strong growth in Singapore, Hong Kong, Malaysia, China and Indonesia, it said in a statement to the Hong Kong stock exchange.

London-based StanChart makes more than four-fifths of its profit from Asia, and has been trying to keep costs under control by cutting staff as banks in the region battle to hire and retain talent.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved