Standard Chartered 1H net profit up 12 pct

LONDON (AP) ? Standard Chartered PLC has reported a 12 percent increase in net profit in the first six months of the year, its 10th consecutive record profit in the first half.

For the six months ending June 30, the bank said Wednesday, it had a net profit of $2.8 billion compared to $2.5 billion a year earlier.

Operating income was up 9 percent to $9.5 billion.

The bank announced a 10 percent increase in its interim dividend to 27.23 cents per share.

Operating profit was up 11 percent to $4.55 billion. The biggest contribution came from Hong Kong at $922 million, followed by Pacific (including China) at $850 million. Barely 11 percent came from the bank's base in Europe.

Standard Chartered shares were up 1.8 percent at 1,491.5 pence in early trading in London.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-08-01-Britain-Earns-Standard%20Chartered/id-99b7eae7bca3484d8aecc2031ab09bb8

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