Standard Chartered first half profits rise

| August 4, 2010 | 0 Comments

Standard Chartered bank has today unveiled a 10% increase in profits for the half-year ending June 30.

The bank, which has a strong presence in Asia, said pre-tax profit came in at £1.96 billion during the six month period, a rise from the £1.78 billion it made in the same period a year earlier.

Commenting on today’s figures, chairman John Peace said: “This has been an eventful as well as a successful six months for Standard Chartered.”

However, Mr Peace cautioned: “These remain challenging times. There is fragility in the global economy and nervousness in financial markets.

“While there is economic improvement in our markets of Asia, Africa and the Middle East, they are still dependent on a recovery in the West which is much less certain.”

In related news, last year the bank announced it is be the main sponsor of Liverpool Football Club.

The £80 million agreement, which is a four-year deal, will see the famous red shirts emblazoned with the bank’s name this season.

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