Standard Chartered's profit rises 34 percent year-over-year in first half of 2018

An illuminated Standard Chartered Plc logo is displayed on the Standard Chartered Bank building.
Jerome Favre | Bloomberg | Getty Images
An illuminated Standard Chartered Plc logo is displayed on the Standard Chartered Bank building.
  • British lender Standard Chartered reported a 34 percent year-over-year rise in its pretax profit for the six months to June.
  • The bank, which focuses on Asia, Africa and the Middle East, said its profit rose to $2.35 billion in the first half of the year.
An illuminated Standard Chartered Plc logo is displayed on the Standard Chartered Bank building.
Jerome Favre | Bloomberg | Getty Images
An illuminated Standard Chartered Plc logo is displayed on the Standard Chartered Bank building.

Standard Chartered Plc on Tuesday reported a 34 percent rise in its pretax profit for the six months to June, as the Asia-focused bank continued to grow its revenue after years of restructuring.

Pretax profit for StanChart, which focuses on Asia, Africa and the Middle East, rose to $2.35 billion in the first half of the year, from $1.75 billion in the same period last year, the lender said in a regulatory filing.

StanChart's profit growth in the last few quarters and the return to dividends this year are seen by investors as signs the sweeping restructuring implemented by Chief Executive Bill Winters when he joined the bank in 2015 is showing promise.