A veritable meet

4 August 2010 By Nicholas Paisner

The Asiafocused bank notched up another record result, thanks to lower loan losses and success in its push into investment banking. But the shares have reacted badly. With Western peers finding favour again, StanChart’s status as crisis winner is counting for less.

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Standard Chartered said on Aug. 4 that halfyear pretax profit rose 10 percent to $3.1 billion, a record for the company and in line with analyst forecasts.

The shares, which hit an alltime high of 1,927 pence on July 28, were 6.3 percent lower by 1130 GMT.

Standard Chartered's core Tier 1 capital ratio stood at 9.0 percent at the end of June, compared with 8.9 percent at the end of 2009. The interim dividend was increased by 10 percent to 23.35 cents per share.

The bank said its normalised return on equity during the period was 14.7 percent.

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