Standard Chartered Asia's income up 23% in H1

11 Asian markets registered record incomes.

Standard Chartered Asia achieved a robust performance, on a constant currency basis, income increased by 23% on a year-on-year (YoY) basis in the first half of the year.

The region also saw a 19.1% Return on Tangible Equity (RoTE).

Among the 21 Asia markets, 11 achieved record incomes, seven generated profits, and 10 exceeded 12% RoTE. Notably, Hong Kong, China, and Singapore achieved record first-half incomes. 

The region witnessed strong growth in Cash Management, Retail Deposits, Financial Markets, and a promising recovery in Wealth Management.

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Asia, the largest cross-border region, experienced remarkable growth, with income surging by 38% to $1.5b YoY. 

Specifically, China's Corporate, Commercial, and Institutional Banking cross-border income increased by 59% to over $6.36m. 

Moreover, the China-ASEAN corridor saw an impressive 82% YoY growth, while the China-Africa & Middle East corridor grew by 76% YoY.

Group-wide, the bank saw a 20% climb to $3.32b in profit before taxes whilst the Asia units also surged 47% to $1.35b.