Standard Chartered about to hit its stride in Africa

LIVERPOOL FC shirt sponsor Standard Chartered is reporting strong trading in Hong Kong, Singapore, Malaysia, China and Indonesia which are more than offsetting slower growth in India and Africa. In its first half the London-based emerging markets bank saw growth in its business swing back to Asia but it remains optimistic that Africa in particular will deliver in the longer term. Sub-saharan African growth rates were 7% for the bank in 2010 making it the highest growth territory of any in which it operates. Bank executives are expecting “explosive growth” in the continent due not only to the commodities boom but also infrastructure investment and agribusiness and consumption expanding. Whilst forecasting high growth for the next 20 years the bank warned that it would likely be a bumpy ride.