The Bank, which is the majority shareholder in Stanchart Botswana maintained strong income momentum, with eight per cent growth in Consumer Banking and 18 percent in Wholesale Banking client income. Group income was broadly flat overall against the first half of 2009, which benefited from exceptional Wholesale Banking own account income and a one-off gain of $248 million related to the buy-back of debt. Group income climbed ten per cent against the second half of 2009.
Peter Sands, Group Chief Executive, Standard Chartered said: "These results demonstrate once again our commitment to delivering consistent and sustained performance. This is not a bounce back, a sharp recovery in profits; it is simply another set of record results, continuing a trajectory that now extends over more than seven years. Both our businesses enter the second half with good momentum, but we remain extremely watchful about the global outlook and are managing the business very dynamically. We are investing now in order to grasp the huge long term opportunities across our markets. The Bank is in great shape, has good momentum, and is superbly positioned for the future."
