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.
Lloyds and Standard Chartered with good financial reports
Two more of the leading British banks have shown strong results for first half of 2010. After the best accounts of HSBC and the "bad bank" Northern Rock Asset Management, showed good performance today Standard Chartered and Lloyds Banking Group. Profit before tax of Standard Chartered rose by 10 percent annually for the first half on an annual basis, reaching 3.12 billion dollars. This is a strong result for the financial institution that generates over 80% of their revenues to the Asian market, reports suggests. A key event for the bank in the first half of the year is to raise 537 million dollars from the market in India, was carried listing of depository receipts that can be traded on the exchange. So Standard Chartered became the first foreign company that carried the Indian market. Profits of Lloyds Banking Group for the first six months amounted to 1.6 does billion pounds, which is a significant improvement over last year. Then it was reported a loss of 4 billion pounds. With a major contribution to the good profit of the bank 41 percent owned by taxpayers, is the reduction in appropriations to cover bad debts provisions. They have dropped from 13.4 billion to 6.5 billion pounds.
Standard Chartered with a profit of 5.15 billion dollars
The British bank Standard Chartered has achieved profit growth of 13 per cent in 2009 and made a positive result before taxes of 5.15 billion dollars. This is a significant improvement compared to 2008 when the profit was 4.6 billion dollars. Corporate Banking has delivered a profit of 4,1 billion dollars in 2009, which is more than one third achieved the previous year. Consumer banking is not even that good, due mainly to the growth of bad loans. Bad loans of the bank jumped by half this year and now amount to $ 2 billion. This is mainly due to losses incurred in the Middle East. Because of the good results of the bank that will give significant bonuses to management.
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