Standard Chartered will not change targets for double-digit income growth this year despite the turmoil in the Middle East and the unfolding nuclear disaster in Japan.
'The world is obviously a very turbulent place as the tragic events in Japan and the political turbulence in the Middle East demonstrate, but Standard Chartered is in very good shape,' said group chief executive Peter Sands, who added the bank started off with a record January both in profits and revenue.
The bank dodged a bullet during the global financial crisis, thanks to its 'big in Asia, Africa and Middle East' strategy. This year, all three regions face a rough start.
Sands said the bank remained committed to the Middle East despite armed conflicts between government forces and protesters in Bahrain, where the bank has about 500 staff.
'Some branches earlier this week were closed simply because of roadblocks that made it difficult ... to get to them,' he said. 'Our branches were open [on Thursday], and we will continue to operate there.'
Bahrain is a small island country near the western shores of the Persian Gulf.