Standard Chartered has reported that its profit attributable to ordinary shareholders was $3.3 billion for the year ended December 31, 2008, up 17%, compared to $2.81 billion for the year ended December 31, 2007.
For the year 2008, operating income increased 26% to $13.97 billion from $11.07 billion for the year 2007. Operating profit for the year 2008 was $4.57 billion, an increase of 13%, as compared to $4.03 billion in 2007. Profit before taxation was $4.8 billion for the year 2008, up 19%, as compared to $4.03 billion for the year 2007.
Total assets as of December 31, 2008 totaled $435.07 billion, representing a growth of 32%, as compared to $329.87 billion as of December 31, 2007.
Peter Sands, group CEO of Standard Chartered, said: 2008 was a year of extraordinary dislocation and disruption in financial markets. Banks collapsed or were rescued by governments, markets fell precipitously and economic growth stalled.
Given our conservative business model, our clear strategy and our focus on the basics, Standard Chartered has weathered the storm relatively well. We have not been unscathed but we have continued to be open for business for customers and once again delivered record profits.
