The private bank, which was launched in 2007 and is headquartered in Singapore, said its revenue grew 14% year-on-year nearing $300m (£192bn, €244bn) during the first half of 2012, “despite uncertain and less-than-favourable market conditions”.
It also said during the six month period to the end of June 2012 that more than 2,300 new clients accounts were added to its books.
In addition, the private bank said double digit performance was recorded across its key markets driven by “new business flows and productivity uplift”, although it did not provide any further details of this performance. It did, however suggest growth was strongest in Asia.
As well as its head office in Singapore, the private bank has 21 offices, including two trust offices, around the world, in Asia, Africa, the Middle East and Europe.
Yesterday its parent company, Standard Chartered, said its pre-tax profit grew by 9% to $3.95bn in the six months to the end of June.
Following publication of the results, UK asset management house Investec reaffirmed its “buy” position on Standard Chartered saying “it remains our preferred UK Asian play”.
