StanChart Banks On Commod Trading Growth
Standard Chartered expects a record 30 percent growth in its commodity trading revenue in 2011.
Standard Chartered expects a record 30 percent growth in its commodity trading revenue in 2011, Business Standard reports. Strong demand from clients in Asia, Africa and West Asia is expected to spur the growth.
The bank has seen an average increase of 30 percent to 40 percent over the past few years, said global head of commodities, Ashish Mittal. It is also looking to expand physical trading in commodities such as coal, iron ore, palm oil and base metals, he added.
Click here for the story from Business Standard.