Standard Chartered operating profit up 10 percent to $2.84bn in 1H, 2009

Standard Chartered PLC announced another record performance for the first half of 2009 with income rising 14 per cent to US$7.96 billion and operating profit before tax of 10 per cent to $2.84 billion.

The Group has seen substantial income momentum across markets with four key geographies reporting over $500 million of income each in the first half.

The performance was driven by strong momentum in Wholesale Banking with income rising 37 per cent, benefitting from market dislocation and volatility leading to market share gains.

Restructuring initiatives in Consumer Banking began to show early positive results with income falling only three per cent over the second half of 2008 while operating profit increased 11 percent over the same period. The Board of Directors have also announced an interim dividend of 21.23 cents per share, up 10 percent.

Group Chief Executive, Standard Chartered, Peter Sands said, "These results show record income and profit performance, characterised by significant momentum over both the first and second halves of last year.