Lender Standard Chartered Plc (STAN.L,STAC.L,SCBFF.PK) on Wednesday reported higher profit for the first half of the year, despite a challenging macro-economic environment.
Profit attributable to parent company shareholders increased to $2.856 billion from $2.566 billion. Earnings per share rose to 116.5 cents from 105.6 cents.
Normalised earnings per share increased to 115.5 cents from 103.9 cents in the first half of last year.
Pre-tax profit advanced to $3.948 billion from $3.636 billion.
Net interest income climbed to $5.483 billion from $4.941 billion. Non-interest income was $4.028 billion compared to $3.823 billion last year.
The lender increased interim dividend per share by 10 per cent to 27.23 cents per share.
The company said it continues to be well capitalised to meet evolving regulatory requirements whilst
leveraging the growth opportunities in its markets.
Commenting on these results, Chairman of Standard Chartered PLC Sir John Peace, said: "Standard Chartered has performed strongly during the first six months of 2012. Set against a macro-economic environment that is increasingly challenged, we have continued to deliver consistent good returns. We have a firm grip on the business...''
The lender said it is entering the second half with confidence and has had a strong July. However, ''we are watchful of the significant and growing challenges in the external world, and we are managing risk tightly,'' it added.
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by RTT Staff Writer
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