Standard Chartered Private Bank reported $260m
in income for the first six months of 2011, while assets under
management (AuM) grew 11% in the same period.
Income grew 31% year-on-year, compared with
$198.5m in the first half of 2010.
Go deeper with GlobalData
The fast-growing private bank has a key
investment focus on Asia, Africa and the Middle East and is pushing
the collaboration between its consumer and wholesale banking units
to drive growth.
No mention was made of plans to sell its Latin
American unit.
Global AuM up 11% in 1H
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataGlobal AuM grew to over $51bn in the first
half of 2011 to 30 June, up 11% compared with $46bn as at 31
December 2010.
AuM showed a year-on-year growth, up 31%
compared with just over $40bn as at 30 June 2010.
The number of relationship managers (RM) at
the private bank stood at more than 470, representing a 10%
year-on-year increase in headcount.
Client accounts up 10%
However, the RM figures grew slower from 31
December 2010, when the private bank had about 450 client-servicing
staff members, representing 4.4% growth.
StanChart said it added more than 2,500 new
client accounts in the first six months of 2011 taking client
accounts to about 21,000.
