Standard Chartered first by profits in UAE

Published August 14th, 2003 - 03:00 GMT

United Arab Emirates (UAE) Banks and Ranks 2003, the newly published annual financial statement analysis guide, has revealed that Standard Chartered Bank is first by profits, first by total footings and first by liquid assets, among the international banks reviewed, stated a press release. The bank is also ranked second by total assets, second by loans and discounts, and second by total deposits.

Banks and Ranks 2003 is an independent guide produced by Abu Dhabi-based ARIP, analyses the financial results of 40 UAE banks and 295 financial statements. It is distributed to UAE commercial banks, as well as all financial institutions, investment companies, ministries, embassies, and global correspondent banks.

Standard Chartered Bank has a Consumer Banking network comprising eight branches and 22 automated teller machines (ATMs). Standard Chartered employs 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

The Bank serves both Consumer and Wholesale banking customers. Consumer banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small/medium sized businesses. The wholesale bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets. — (menareport.com)