Standard Chartered, the bank focused on emerging markets, continued to see good momentum across its businesses and geographies in the third quarter.
In the year to date, income grew at a high single digit percentage rate, maintaining the trajectory seen in the first half of 2012. Income has continued to be affected by the strength of the US dollar against Asian currencies, with year to date income growing at a double digit rate on a constant currency basis.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group's operating profit for the year to date has grown at a mid-single digit rate, or at a double digit rate excluding the New York settlement.
"Lending and deposits have both increased over the last three months as we continue to support our customers and clients," revealed Peter Sands, Group Chief Executive.
"We manage the group conservatively with costs controlled tightly and risk well managed. Our balance sheet philosophy remains a source of competitive advantage with a focus on diversity, high levels of liquidity and a strong capital position," Sands claimed.
JH
-
What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about
