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StanChart sees growth in Africa

StanChart sees growth in Africa

(8 August 2007 – UK) UK headquartered but Asia focussed bank Standard Chartered has delivered a net profit of US$1.98 billion for the six months to June 2007, up from US$1.53 billion last year. The bank said it would look to build on the 30 percent half year profit increase by contemplating further acquisitions.

Standard Chartered flagged South Africa as a country of focus as part of its Africa franchise. The bank is reportedly targeting Nedbank, which is the fourth biggest bank in South Africa.

Standard Chartered makes three quarters of its profits from its businesses across Asia.
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