Standard Chartered also known as StandC has seen healthy growth from its Indian operations. It registered a growth of 19 per cent over its previous profit before tax (PBT) during the first half of this fiscal.

In real terms the profit was at $624 million and has made India the biggest market for the bank in all its operations.

Rise in the advances section coupled with lower loan impairments pushed up the margins. It was clear since the net interest margin (NIM) was 3.8 per cent up from 3.5 per cent. For the bank, loan impairments in India went down by as much as 56 per cent during H1.

Talking to media, Neeraj Swaroop, CEO, India and South Asia said that the bank was now eyeing better growth in the SME and corporate financing sectors. In line with this they have decreased the focus on the unsecured portfolios.

He further added that the bank was looking at a growth of 17-20 per cent in the advances and deposits segment.

As for the listing of the bank in Singapore, Jaspal Bindra, Director and CEO of bank said that they are still keen on this.