Standard Chartered recording 'strong performance' so far in 2010

28 June 2010

Peter Sands, the chief executive of Standard Chartered, has stated that the British firm is on course to record a "strong performance" in its results for the first six months of the year.

Speaking in a pre-close trading update, Mr Sands told shareholders: "Economic conditions continue to improve across our geographies and business activity levels are increasing, although recent market volatility has had some impact on sentiment."

He added that the firm is still performing well and maintaining its market share, helped by a process of remaining focused on "the basics of good banking".

These include keeping a close eye on capital, liquidity, costs and risk, Mr Sands explained.

Earlier this month, Standard Chartered signed a memorandum of understanding with the Agricultural Bank of China.

The link-up will see a joint co-operation committee formed by both banks in order to drive a strategic partnership so both organisations can make the most out of shared business opportunities.

By Asim Shah

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development