The private banking business of Standard Chartered has reported operating income of US$314 million for the first half of 2013, a rise of 4% compared from the year ago driven by wealth management and secured lending.
Wealth management income rose 8% to US$817 million, the British banking group said in a statement.
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For the period ended 30 June 2014, the division’s profit before taxation was US$71 million.
Overall, Standard Chartered’s first half profit before tax was down 20% at US$3.27 billion from US$4.09 billion last year.
Operating income, excluding own credit, totalled US$9.27 billion, from US$9.75 billion.
The group proposed a dividend of 28.8c a share, unchanged.
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