StanChart’s conservative management continues to pay off

The British bank announces a 9% rise in profits as it navigates a safe course through the global slowdown and costly scandals that have caught out global rivals.

StanChart’s conservative management continues to pay off

Standard Chartered posted record first-half profits for the 10th consecutive year yesterday as its conservative strategy and emerging-market focus continue to protect it from the ravages its European rivals are suffering.

Pre-tax profit grew to $3.9 billion, up by 8.6% on the first half of last year and 25.8% on the second half. The bank earned a healthy 13.3% return on equity thanks to continued investment in its target markets of Africa, Asia and the...

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