Standard Chartered says it's on track to meet expectations

06/26/2013 | Reuters

Standard Chartered maintains it is on pace to meet its US$8 billion target for full-year operating profit despite the slowing economy in China and a general squeeze on emerging markets due to tighter monetary policies in the developed world. "Growth has remained resilient across our footprint markets of Asia, Africa and the Middle East with high levels of client activity," said CEO Peter Sands. Short seller Muddy Waters has differed, however, saying StanChart is under considerable stress.

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