Standard Chartered

U.S. Authorities Probing Standard Chartered for Possible Violations in Sanctions

U.S. Authorities Probing Standard Chartered for Possible Violations in SanctionsStandard Chartered Plc is undergoing investigations by U. S. authorities for possible violations of U. S. sanctions which are related to its banking services for certain bodies in Dubai which are controlled by Iranian entities.

Standard Charter Income Plunges by 24%

Standard-CharteredAccording to recent updates, Standard Chartered Plc (STAN), the UK bank, has come across a decline of 24% in its earnings from Asia. Just a year ago, net income had plummeted to $2.18 billion from $2.86 billion.

Standard Chartered’s shines in Middle-East

Regional uncertainties prevailing in the market failed to deter growth of Standard Chartered that posted a growth of 7 per cent in the Middle East and South Asia, or Mesa, region. Bank’s operating profit before tax stood at $429 million led by a vibrant growth in the UAE despite unrest in the neighbor regions. UAE accounts for 60 per cent of the regional income and 80 per cent of the profit of the firm.

4% growth in StanC's UAE business

Standard-CharteredAs per the Standard Chartered Bank ''Economic Outlook 2011', there is economic recovery happening in UAE and that makes the region one of the most sought after one in the region. This is good news considering the fact that economic recovery has come after a long wait of deadlock that came to be seen since December 2009.

Standard Chartered to widen its team of relationship managers

Standard-Chartered-LogoInternational lenders having presence in the United Arab Emirates are planning to increase their headcount across its various segments. The move is aimed to satisfy human resource needs of the banks for implementing their growth projects during the year.

Shankar named as Middle East Chief by Standard Chartered

Standard-CharteredOn Monday, V. Shankar was named as chief executive for the Middle East division by Standard Chartered Bank PLC, one of the main creditors to debt-laden Dubai World.

Mr. Shankar, who will be based in Dubai and will report to Peter Sands, group chief executive of Standard Chartered, will also be looking over the bank's business in Africa, the Americas and Europe.