Standard Chartered announces profit rise.

Author:Rosenberg, Anna
Position:AFRICAN BANKER'S WORLD - Financial report

Standard Chartered PLC has delivered strong results for 2007 with income exceeding $11bn and profits in excess of $4bn. The dividend payout has been raised by 12% to 79.35c from 71.04c for 2006. Growth in underlying income was at 23% against 18% the previous year, with 80% of the operating income growth coming from organic businesses. The bank's CEO, Peter Sands, said: "Despite the turbulence, shocks and uncertainties in financial markets, we have once again delivered record profits. We haven't done this by slowing down or squeezing the...

To continue reading