standard chartered

Standard Chartered Bank (Pakistan) Limited has announced its H1 2018 Results.

The Bank declared a Profit (after tax) of PKR 5.2 billion in H1 2018, which has increased 3per cent year on year.


  • H1 2018 profit (after tax) is PKR5.2 billion
  • Revenue and profit after tax are up by 3per cent year on year
  • Strong growth in advances by 12 percent from the start of this year
  • Client Revenue increased by 10 percent year on year

Client revenue has increased by 10per cent year on year with the positive contribution from transaction banking, financial markets, and retail deposits. While administrative costs increased year on year, the spending has been mainly in the Bank’s products, services, and people to grow the franchise.

All businesses have positive momentum in client income with strong growth in underlying drivers. This is evident from a pickup in net advances, which have grown by 12per cent since the start of this year. This was a result of the targeted strategy to build profitable, high quality and sustainable portfolios.

With a diversified product base, the Bank is well positioned to cater to the needs of its clients. On the liabilities side, the Bank’s total deposits grew by 7per cent, whereas current and saving accounts grew by 9per cent since the start of this year. The continuous increase in low-cost deposits has significantly supported the Bank’s performance with current and savings accounts comprising 94per cent of the deposit base.

The interim cash dividend of 7.50% (Rs. 0.75/- per share) in respect of the half year ended June 30, 2018, has been declared by the Board of Directors in their meeting held on August 27, 2018.

Commenting on the results Shazad Dada, Chief Executive, Standard Chartered Bank (Pakistan) Limited, said, “These results demonstrate the resilience of our business. Financial performance in H12018 has been steady with encouraging growth in underlying drivers. Our key investment areas are growing well and we are encouraged by our start to 2018, but we are well aware that this franchise is capable of much more. We are now focused relentlessly on building sustained asset & income growth with existing and new clients and are working hard to further optimize our control environment to achieve that.”