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StanChart reports increasing WM income while soaking up new affluent cash

Standard Chartered has reported a 10% YoY increase in wealth management income for 2Q23 while reporting huge increases in affluent net new money. The growth, which comes after five consecutive quarters of drops in wealth management income, reflects the gradual economic recovery from easing covid restrictions in the bank’s key footprint markets, according to Standard Chartered’s announcement on Friday. Compared…

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