News Column

H1 Standard Chartered Bank Mainland China Revenue Up 15%

August 7, 2014

BEIJING, August 7, SinoCast -- Standard Chartered Bank recorded revenue and before-tax profits of USD 9.269 billion and USD 3.268 billion in the first half of this year, falling 5% and 20% over a year earlier, but the revenue in Mainland China grew 15% to USD 515 million.

In spite of slowing-down Chinese economic growth in the first half of this year, the business activity of corporate customers was still very active and cross-border renminbi and trade business grew steadily. Mainland China continued to become the region contributing the most to the group's online revenue in the first half of this year.

The group opened a sub-branch in China (Shanghai) Pilot Free Trade Zone and launched credit card business. By far, its network has covered 27 cities in Mainland China with 104 outlets.

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Source: Sinocast Banking & Credit Beat (China)

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