Standard Chartered surge 17% ahead

ASIA-focused Standard Chartered Bank reported a market-beating 17 per cent rise in first-half pre-tax profit yesterday, helped by strong growth in some key markets such as Hong Kong, keeping it on track for another year of record profits.

It said it expects costs to rise largely in line with income this year, removing a blotch that had weighed on the bank over the past few years of its rapid growth.