Stanchart Expects To Miss Double Digit Growth Target: FD

Standard Chartered (STAN.L) does not expect to achieve double digit revenue growth in the current year, finance director Richard Meddings told reporters on a conference call on Wednesday.

However, the Asia-focused bank is comfortable with analysts' expectations for a full-year operating profit of $8 billion, he added.

"At the top line level we are now tracking to below double digit. At the moment we expect that to be the case (for the full year). To the extent that we don't make that (target) in any one year, we manage the business, the costs and so on, to protect and manage returns," Meddings said.

REUTERS