Standard Chartered Bank which primarily focuses on Asia, Africa and Middle East has posted a profit of $4.8bn. This pre-tax profit is higher by 19% as compared to the previous years profit. The bank has also said that it would be on sound footing during the year 2009. I believe that this is the first news of a bank posting profit in past several months. So far we have been hearing about losses only.
Standard Chartered Bank posts profit
Standard Chartered Bank which primarily focuses on Asia, Africa and Middle East has posted a profit of $4.8bn. This pre-tax profit is higher by 19% as compared to the previous years profit. The bank has also said that it would be on sound footing during the year 2009. I believe that this is the first news of a bank posting profit in past several months. So far we have been hearing about losses only.