Stanchart profits up 20 percent

The oldest bank in the country realised an income of P463.3 million in the review period, up 12 percent from the same period in 2006. Standing at 71.25t compared with 61.86 thebe last year, Earnings Per Share (EPS) were also up by 20.02 percent.

The release of the impressive results is expected to boost performance of the bank on the BSE after sustaining some heavy battering in the last few months due to a self-correction exercise by all financial institutions. However, if previous trends on the market are anything to go by, a share price resuscitation driven by the good results is far from guaranteed.