StanChart net profit up 25% in FY08

Rs crore

2006-07

2007-08

% change

Net profit

1,364

1,706

25

Total assets

58,891

73,445

25

Deposits

34,175

36,956

8

Advances

30,103

33,351

11

The balance sheet grew by 25 per cent to Rs 73,445 crore. "The growth has come across key businesses, including transaction banking, corporate finance advisory, SME banking, wealth management, among others," said Neeraj Swaroop, regional chief executive, India & South Asia.  "India is a key market for Standard Chartered accounting for 17 per cent of the global operating profits in 2007," Chief Financial Officer Anurag Adlakha added.  During the year, StanChart India's capital base rose $600 million, which included a fresh investment of $250 million in March this year. "The infusion has helped in achieving compliance with Basel II regulations in addition to supporting the business' growth," Adalkha said.