Standard Chartered reports strong 2012 income, profit and dividend growth

With operations in many of the world‟s most dynamic economies, the company now has 26 markets delivering over $100 million of income. Total group income was up 8 per cent to $19.07 billion.

The group is increasingly generating income through more effective use of the network as trade grows strongly across our markets. In 2012 over 50 per cent of client income in wholesale banking was generated outside of the home market country of the clients.

At the same time, consumer banking is benefiting from a fast-growing middle class as these economies expand.

Chairman of Standard Chartered Sir John Peace, said: “Standard Chartered remains a growth story and we are sticking to our strategy, focusing on the basics of good banking, in markets we know well, with clients and customers with whom we have deep relationships. We are entering the new year with strong momentum in both of our businesses and the board remains confident for the year ahead.”

The group’s costs grew by 10 per cent, with normalised costs up 2 per cent. The number of employees has increased by around 2,200 over the course of the year and now the group has over 89,000 people worldwide.

Normalised earnings per share increased 14 per cent and dividend per share was up 10.5 per cent, with return on equity at 12.8 per cent, as the group continues to deliver long-term value for shareholders.

“We continue to focus on the basics of banking, growing clients’ businesses while maintaining our balance sheet strength. Customer deposits were up 10 per cent while customer assets grew by 6 per cent. The group’s balance sheet is in excellent shape and we continue to be highly liquid, well capitalised and remain deposit funded,” Peace said.