Standard Chartered Bank reports record H1 operating profit in the Africa and Middle East region

Standard Chartered Bank reports record H1 operating profit in the Africa and Middle East region

Standard Chartered Bank reports record H1 Operating Profit in the Africa and Middle East region

- Highest half-yearly Operating Profit since 2015

- United Arab Emirates, Pakistan, and Ghana record strong growth in income and operating profit

Dubai – Standard Chartered PLC (the Group) today released its financial results for the first half of the year ending 30 June 2022. See link here

In the Africa and Middle East (AME) region, the Bank recorded USD 1.291 billion dollars income with USD 581 million in operating profits.

AME Region performance highlights:

- Broad-based growth across markets, segments, and products

- Income up 8 per cent Y-o-Y on constant currency to USD 1.291 billion

- Operating Profit USD 581 million up by 28 per cent Y-o-Y on constant currency basis

- Strong improvement in the region’s Return on Tangible Equity (RoTE) at 13 per cent

- Geographical Highlights – Double digit income growth and high Operating Profit growth in major markets like the UAE, Pakistan, and Ghana. Pakistan delivered its highest ever half yearly Operating Profit.

Commenting on the results, Sunil Kaushal, Regional CEO, Africa and Middle East said: “Our first half performance was strong, underpinned by the successful execution of our strategy. This record performance is a clear testament to the commitment,