StandCharte to achieve record results in 2010
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