Standard chartered has posted a thirty-seven percent pretax profit for the half-year ending 30th June 2021.
The lender says this growth was buoyed by improved loan impairments, strong underlying business momentum and good progress across the bank’s strategic priorities.
The bank further announced an additional share buy-back programme together with the resumption of the interim dividend payment.
“This has happened during a period when the backdrop while improving remains uncertain and challenging and is a true testament to the resilience of our underlying business. We have remained focused on clients and people and have made very good progress on our priorities,” said Sunil Kaushal, Regional Chief Executive Officer, Africa and the Middle East.
In the Africa and the middle east region, the bank has recorded its highest half-yearly operating profit over the last five years.
Income remained flat year on year and 1 percent higher on a constant currency basis despite being impacted by rate cuts and currency devaluation.
The bank’s income in Africa grew by 6 percent on a constant currency basis driven by the digital banking momentum in consumer, private and business banking and deal pipeline.
