StanChart profit up 4.7 pc in 2009

Posted By: Staff
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London, Mar 3: Standard Chartered reported a 4.7 per cent rise in its 2009 net profit on Wednesday, Mar 3.

Standard Chartered said its 2009 pretax profit rose to $5.15 billion from $4.6 billion, just ahead of an a forecast for $5.1 billion.

Bad debts jumped by half on the year to $2 billion, largely due to a rise in losses in the Middle East. Analysts had expected impairments to hit about $2.1 billion.

However, the bank said 2010 had started strongly, ahead of a year ago.

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