Standard Chartered half year profits up 9%

Standard and Chartered  has just posted a profit before tax of US$ 3.95 billion, up 9% on improved revenue, also increasing by 9% to US$ 9.5 billion, with 90% of this coming from Asia, Africa and the Middle East where they have extensive expanding branch networks. 

The figures could have been better but the bank has suffered from weakness in Asian currencies versus the US$ and a deterioration in economic conditions in India.