Standard Chartered plans to issue £1 billion worth of stocks

Tuesday, Standard Chartered unveiled its intention to issue £1 billion worth of new shares in a bid to develop opportunities appeared as the result of the global financial crisis.

Standard Chartered reported a 10% increase in pre-tax operating profit to $2.84 billion, that it had previously been forecasted of $2.49 billion.

The bank has a particularly strong business in Asia, where some stock markets have raised by more than 70% from their lows earlier this year. As the bank reported, it got advanced firmly from recent months “market dislocation and volatility”, that let income from its wholesale banking business grow by 37%.

Consumer banking division also revealed strength, reflecting a sharp rise in deposits that have created $40 billion of surplus liquidity for the group. This increase was especially acute in its home markets of Hong Kong, Singapore and Korea.

Standard Chartered also reported 10% increase in the interim dividend of 21.23 cents per share.