StanChart income growth limited by USD strength

Emerging markets-focused lender Standard Chartered (StanChart) said that the robust income growth seen in the first quarter continued into the second, although foreign exchange (FX) movements are still limiting the increase.

Emerging markets-focused lender Standard Chartered (StanChart) said that the robust income growth seen in the first quarter continued into the second, although foreign exchange (FX) movements are still limiting the increase.

Income growth in the six months to June 30th is still expected to be at a high single-digit rate over the comparable period in 2011. However, the continued strength in the US dollar against currencies in its footprint is expected to drag group income by over 2%, with the Indian Rupee being a major contributor.

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