Standard Chartered’s private banking arm recorded less-than-stellar growth figures for the first quarter of 2016, according to the British lender’s latest financial statement. Income from private banking – one of four divisions – dropped 3% for the quarter and a hefty 22% year-on-year (YOY) to US$118 million, accounting for 3.5% of whole-of-group income. The bank attributed this decline to “adverse…
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