Standard Chartered Private Bank reported strong growth in their assets under management to the end of June 2013.

The bank said it saw continued double digit growth in assets under management (AUM) in the Middle East and Asian markets and had attracted more than 1,800 new accounts overall.

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The bank did not reveal the total AUM figure for the half year to June 2013, but AUM stood at $54bn at 31 December 2012.
Revenue growth though remained weak at only 1% year on year across the bank.
The interim statement from Standard Chartered said that the revenue growth had been achieved despite margin pressures on deposits.

Judy Hsu, acting CEO for Standard Chartered Private Bank, said: "Our H1 performance was resilient and we remain positive in our outlook for 2013 and the strength of our business."

In May the private bank announced that it expected full year pre-tax profits to hit $7.5 billion for 2013.

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