LONDON (dpa-AFX) - Standard Chartered Plc (SCBFF.PK, STAC.L, STAN.L) reported Thursday that its first-half profit before tax was $2.41 billion, up 3 percent from $2.35 billion, in the year-ago period. However, basic earnings per share declined to 38.0 cents from 40.7 cents last year, impacted by provisions for regulatory matters and a higher tax charge.
Underlying profit before tax rose 11 percent to $2.61 billion from $2.36 billion last year. Underlying earnings per share increased to 49.1 cents from 44.9 cents a year ago.
Operating income grew 1 percent to $7.70 billion from $7.65 billion a year ago.
Net interest income increased 6 percent as a result of volume growth and an increased contribution from trading book assets in Financial Markets. The net interest margin was unchanged with last year at 1.59 percent.
The company proposed an interim dividend for 2019 of 7 cents per share, which is 1 cent or 17 per cent higher than at the interim stage in 2018.
'We are pleased with our results so far this year. Our performance resulted in an 88 basis point improvement in our primary measure - return on tangible equity - reaffirming our confidence in our ability to achieve the financial targets we set out in February,' Bill Winters, Group Chief Executive said.
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