Standard Chartered Profits Surge, Asian Bank Promises Growth

Published: August 7, 2007, 11:36 am

The Asian Bank Standard Chartered saw their first half pre tax profits surge 30 per cent, rising to almost $2 billion. StanChart also said their would be no let up in their plans for aggressive growth so this means more acquisitions for Standard Chartered. However, the CEO of Standard Chartered, Peter Sands, has dismissed rumours that Standard Chartered was going to big for Nebank, who are owned by Old Mutual in South Africa. Peter Sands said: “The core of our growth is organic but at the same time we are on the constant lookout for acquisitions. We’ll look at much more than we will do,” “We don’t constrain our views in terms of acquisitions. South Africa is a country where we would like to grow our business. Our primary inclination is to grow organically but we wouldn’t rule out acquisitions.” What do you think of the growth in Standard Chartered’s first half profits? Who, if anyone, do you think Standard Chartered will be

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