Standard Chartered has continued to make good progress during the third quarter of 2009, building on the record income and profits in the first half of the year. We continue to benefit from the growth opportunities across our broad and diverse franchise and our continued deliberate focus on capital and liquidity strength remains a source of competitive advantage.

It is clear that the economies in Asia are rebounding and they remain resilient. Their economic growth rates remain well above the rates of growth for markets in the West. This greater resilience is also attracting increased levels of competitive behaviour from both local and international banks.

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