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Standard Chartered Releases 1st Quarter Results
Retail banking income of $1.2 billion was up 2% year on year and 1% quarter and quarter. This was due to higher income from Wealth Management and Deposits, particularly in Hong Kong, resulting from an increase in number of priority clients.
“Private Banking income of $117 million was 2 per cent higher year-on-year.”
Private Banking income of $117 million was 2 per cent higher year-on-year and 6 per cent higher compared to the fourth quarter of 2016. Increases in Deposit margins and higher sales of treasury products in Wealth Management in the first quarter offset lower lending balances and margins.
News Source: Standard Chartered Press Release
- Article continues below -
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About Standard Chartered
Standard Chartered Bank (LSE:STAN) was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa. Operating in around 67 markets around the world, Standard Chartered Bank provides a wide-range of products and services for personal and business customers and generates more than 90 percent of income and profits from Asia, Africa, and Middle East.
- Origin : London, UK
- Assets : $ 640.48 billion
- Revenue : $ 15.29 billion
- Employees : 84,000
Official Website: www.sc.com
News & Media: Press Release
Updated on 8th August 2016
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