StandCharte to achieve record re­sults in 2010

The Pak Banker - - Front Page -

LONDON: Stan­dard Char­tered PLC said Thurs­day that it is on track to achieve record re­sults in 2010, but an­a­lysts expressed con­cerns over ris­ing costs and ques­tioned the speed of in­vest­ments the Asi­afo­cused bank is mak­ing.

The U.K.-based bank said cost growth is ex­pected to ex­ceed in­come growth for the full year, as it con­tin­ued to in­vest in its busi­nesses, branch open­ings and hir­ing, par­tic­u­larly in Asian mar­kets where com­pe­ti­tion for tal­ent is high.

In ad­di­tion, Stan­dard Char­tered, like its U.K. peers, is fac­ing reg­u­la­tory changes on the way it can award bonuses to staff. -PB News

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