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

  • 28% increase in operating profit compared to last year
  • Highest half-yearly Operating Profit since 2015
  • United Arab Emirates, Pakistan, and Ghana record strong growth in income and operating profit

29 July 2022, 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 581million in operating profits.

AME Region performance highlights:

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, hard work and resilience shown by the team.”

He added: “Over the last six months, weredirected resources within the AME region to those areas where we have the potential to scale and grow to better support our client needs. We further secured substantial financing for key infrastructure projects across several markets in the region, participated in sustainability initiatives across the region, and accelerated investments across our digital banking capabilities to ensure our clients continue toreceive a personalised, seamless and convenient experience.”

“Moving forward, we will continue to innovate and support our clients’ evolving needs, with a focus on accelerating our digital strategy and sustainable finance initiatives. We remain excited about the plethora of opportunities that are stemming from Africa and the Middle East, with Egypt and Saudi Arabia being key markets that we will continue to invest in, as we explore a new era of financial innovation.” Sunil concluded.

Standard Chartered Bank’s Africa, Middle East Region has received the following awards for the year 2021 and 2022 which solidifies the Bank’s robust progress as industry leaders in the region.

  • by Global Capital
  • by Bonds, Loans & Sukuk
  • by IFR
  • by Project Finance International
  • by Global Finance
  • by MEA Finance
  • and the Best Consumer Digital Bank in 9 of our markets in Africaby the Global Finance Magazine
  • , Best Green Sukuk, Best SRI SukukandBest Sovereign Sukuk byThe Asset Triple A Awards
  • by The Asset Triple A Awards
  • by the Islamic Finance News Awards

— ENDS —

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s