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Standard Chartered posts record first-half net profit of $3.5b

Published on Aug 1, 2012 1:46 PM
A pedestrian walks past a branch of Standard Chartered bank in Hong Kong on August 1, 2012. Standard Chartered posted a record first-half net profit of US$2.81 billion thanks to strong revenue growth, despite an "increasingly challenged" economic environment. -- PHOTO: AFP

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.

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