Tuesday 31, July 2018 by Kudakwashe

StanChart posts 34 per cent increase in profit in H1 2018

 

Pre-tax profit for StanChart, which focuses on MENA and Asia, rose to $2.35 billion in H1 2018 from $1.75 billion compared to the corresponding period in 2017.

  

Standard Chartered (StanChart) has posted a 34 per cent increase in its pretax profit in H1 2018, as the Asia-focused bank continued to grow its revenue after years of restructuring, reported Reuters.

The increase in pretax profit in the last few quarters as well as the return to dividends this year have raised investors’ hopes after the lender went through a sweeping restructuring exercise implemented by CEO, Bill Winters, when he assumed office in 2015.

 

Features & Analyses

Economics Adapting to a new era

  Abdullah Al-Fozan, Chairman of KPMG MESA and KPMG Saudi Arabia, provides an exclusive commentary on the Kingdom’s business… read more