Standard Chartered posts record first-half net profit of $3.5b
HONG KONG (AFP) - Standard Chartered on Wednesday said its first-half net profit rose 12 per cent to a record high thanks to strong revenue growth, despite an increasingly challenged economic environment.
The Asia-focused emerging market bank's net profit for the six months to June 30 rose to US$2.81 billion (S$3.5 billion) compared to US$2.52 billion in the same period in 2011, it said in a statement.
The result is above the average forecast of US$2.7 billion, according to a poll by Dow Jones Newswires.
Revenue rose to US$9.51 billion from US$8.76 billion a year earlier.