LONDON: Asian specialist bank Standard Chartered plc (StanChart) reported yesterday a 16% rise in annual profit that beat most forecasts and expressed optimism about its long-term prospects.
Although headquartered in London, StanChart makes most of its money in Asia, where its main Hong Kong market has been racked by an economic slump. A war on Iraq could affect the economic prospects of StanChart's main Asian and Middle East markets, but the bank felt it could handle the effects of any military conflict.
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