Standard Chartered is benefiting from its UK base and emerging markets focus as it finances an increasing amount of trade between British and Asian companies.
While its performance last year was fuelled largely by strong growth in Hong Kong and Singapore, profits also rose sharply in its smaller western operations.
Pre-tax profit in the Americas, UK and Europe jumped by more than half in 2011, while operating income increased 16 per cent. Although only a modest part of StanChart’s overall business – the division accounted for 10 per cent of total income and 5 per cent of profits last year – the growth is likely to dampen speculation that the bank could move out of the UK.
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