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Standard Chartered reported higher profit for Q2 2011

The British bank Standard Chartered, which operates mainly in Asia, said its first half profit before tax increased by 17% over the same period of 2010 to 3.6 billion USD, announced the Air Force. The profits rose in all regions where the bank operates, with the exception of its biggest markets - India, where registered a decline of 5%. For this particular result of the bank blamed rising interest rates, increased competition and changes in the regulatory framework of the financial sector. The earnings of Standard Chartered rose 23% in Hong Kong 34% Singapore 14% in South Korea and 19% in China. Growth in the Middle East is 4% in Africa - 10%, the Americas and Europe - 11%.
"The strong performance of the group during the first half of 2011 should be considered in the context of current economic uncertainty, especially in the West, and ongoing global changes in the rules", said Chairman of the Board of Directors of the Bank Sir Jin Peas. "Standard Chartered had a strong start to 2011 and this momentum continued into the second half of the year", he added.