Standard Chartered's First-Half Profit Rose 20% on Year
28 Julho 2023 - 2:09AM
Dow Jones News
By Yifan Wang
Standard Chartered's first-half net profit rose 20% on year,
helped by higher net interest income.
The Asia-focused lender on Friday posted an underlying net
profit of $2.13 billion as operating income rose 14% to $8.95
billion, which the bank said was the highest half-yearly income
since the second half of 2014. The growth has been driven by
sharply higher net interest income, which grew 29% on an underlying
basis amid the tightening of monetary policy globally.
Net interest margin during the period increased 35 basis points
to 1.67%.
StanChart also raised its full-year income guidance and now
expects constant-currency growth of 12% to 14%, up from its earlier
forecast of around 10%.
"We have made a strong start to 2023 with positive momentum
being supported by progress on our Five strategic actions and the
markets in our footprint are expected to continue to grow faster
than those in the West," the bank said.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
July 28, 2023 00:54 ET (04:54 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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