MANAMA, 21 August 2007 — Standard Chartered Bank (SCB), Bahrain, has reported strong financial results at the end of the first half of the year with net profit, rising by 5.2 percent to BD11.53 million.
Total assets of SCB increased by half a percent to BD500 million with customer deposits increasing by 2.5 percent to BD415 million and total equity of the bank standing at BD37.5 million.
SCB has the most extensive branch network among foreign international banks with five branches and a service center across the Kingdom of Bahrain and offering an extensive range of products and services to individual customers, local and international corporates and financial institutions.
Martin Fish, chief executive officer for Bahrain, northern Gulf and the Levant, said: “We are very pleased with our performance in Bahrain across all areas of business.”
He added that “the strong performance reflects the success of our business strategy in both our business functions, consumer banking and wholesale banking.”
The group announced earlier this month a 30 percent increase in profits in the first six months of the year.
Its operating income grew 28 percent to $5.263 billion from $4.112 billion for the first half of 2007.