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Standard Chartered's half yearly net profit up 12%

Standard Chartered has reported a 12% increase in net profit in the first six months of the year, its tenth consecutive record profit in the first half.

For the six months to the end of June 30, it had a net profit of $2.8 billion compared to $2.5 billion a year earlier the bank said.

Operating income was up 9% to $9.5 billion.

The Asia focused bank also announced a 10% increase in its interim dividend to 27.23 cents per share.

Its operating profit was up 11% to $4.55 billion. The biggest contribution came from Hong Kong at $922m, followed by Pacific (including China) at $850m. Barely 11% came from the bank's base in Europe.