Thursday, December 7, 2023

Standard Chartered Posts Highest Ever Profit of Rs. 50.1 Billion in 2022

An rise of 102% year over year, Standard Chartered Bank Pakistan Limited (SCBPL) has produced a record profit before tax of Rs 50.1 billion.

Strong income growth and ongoing cost and risk management practices also contributed to the performance.

With good contributions from all segments, overall revenue increased by 68% to produce a top line of Rs 62.6 billion, the biggest top-line ever. Operating expenses were efficiently managed through efficiency and restrained spending, even with a high level of inflation and ongoing investments in our infrastructure. They increased by 14% from the previous year.

The Bank is well-positioned to meet the needs of its customer’s thanks to a diverse product range.

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