In its bare-bones trading statement, Standard Chartered (STAN) said that despite slower growth in the third quarter, the bank continues to expect good results in 2011. Consumer Banking and Transaction Banking have grown at double-digit rates in the year to date, but Principal Finance has been negatively effected by the market environment. Costs have been well controlled, and are growing slower than revenue. We expect to maintain our fair value estimate.
Continue reading Morningstar analyst Erin Davis' report on Standard Chartered here. Morningstar Equity Research is a feature of Morningstar.co.uk Premium subscription.
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