Double-Digit Growth for Standard Chartered?

Standard Chartered continues to out-earn its global peers by remaining focused on emerging markets

Erin Davis 9 November, 2011 | 6:23PM

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.

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Securities Mentioned in Article
Security NamePriceChange (%)Morningstar
Standard Chartered PLC708.50 GBX-0.21
About Author

Erin Davis  is a senior banking analyst for Morningstar.