Profit before Tax of PKR 16.2billion, up by 26per cent.

Overall revenue increased by 26per cent

Deposits increased by 17per cent year on year to cross PKR 500billion milestone

Total assets increased by 14per cent year on year to cross PKR 700billion

milestone

Standard Chartered Bank (Pakistan) Limited today announced its H1 Results for 2020.

The Bank performed exceptionally well in H1 2020 and delivered Profit before tax of PKR 16.2billion, which is 26per cent higher than corresponding period last year.

With Revenue of PKR 23.5billion, the overall revenue growth was 26per cent, whereas client revenue increased by 27per cent year on year with positive contribution from Financial Markets, Retail Products and Transaction banking. Cost discipline continues with only 4per cent year on year increase in operating expenses.

The current slowdown in the economic activity due to COVID 19 impacted the advances momentum. The Bank is closely monitoring the portfolio in the backdrop of the changing economic environment and is maintaining adequate provisions, where required.

The Bank achieved another milestone as total deposits crossed PKR 500billion. With a growth of 17per cent in H1, total deposits closed at PKR 547billion, with current and saving accounts constituting 93per cent of the deposits base. The robust performance resulted in an increase of 14% in total assets to achieve the PKR 700billion milestone. The optimal funding structure of the balance sheet continues to support the Bank's performance.

Commenting on the results, Mr. Rehan Shaikh, Chief Executive Officer, Standard Chartered Bank (Pakistan) Limited said, 'I am delighted to announce our First Half 2020 results. The Bank has performed exceptionally well and has continued to deliver on all key metrics on the back of a strong balance sheet.

While the external environment remains challenging, our results demonstrate our strong business fundamentals. We continue to invest in digital capabilities to enhance our clients' banking experiences whilst continuing to focus on strengthened foundations of controls and conduct, equipping us to effectively manage our risks, capital and liquidity. The prudent and proactive measures that we are taking now will make us leaner and fitter to take advantage of the opportunities that will help the franchise grow in the future.'

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For more information or interview opportunities, please contact:

Farhan Ahmed Tasneem Mirza

Head Communications Associate Director, Communications and Sustainability

Standard Chartered Bank Standard Chartered Bank

+92 302 8600621 +92 302 8204852

Farhan.Ahmed@sc.com Tasneem.mirza@sc.com

Standard Chartered PLC

We are a leading international banking group, with more than 80,000 employees and a 150-year history in some of the world's most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East. Our heritage and values are expressed in our brand promise, Here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.

For more information please visit www.sc.com. Explore our insights and comment on our blog, BeyondBorders. Follow Standard Chartered on Twitter, LinkedIn and Facebook Standard Chartered Bank (Pakistan) Limited Standard Chartered Bank (Pakistan) Ltd. is the oldest and largest international bank in Pakistan since 1863. It is also the first international bank to be awarded Islamic banking licence and the first to open an Islamic banking branch.

The Bank serves Corporate & Institutional, Commercial and Retail Clients through a comprehensive suite of products and services. Corporate & Institutional Banking comprises global subsidiaries, international corporates, financial institutions and sovereign clients. Commercial Banking serves local corporates and small & medium sized clients. Retail Banking serves priority, premium, personal and business banking clients. All segments offer a complete suite of Islamic banking products and services under Standard Chartered Saadiq brand and state of the art digital banking solutions.

Standard Chartered Bank (Pakistan) Limited is listed on the Pakistan Stock Exchange (PSX) and was assigned a rating of AAA / A1+ by PACRA.

The Bank employs more than 2,800 people in Pakistan and has a network of 279 touch points (60 branches, 170 ATMs, 29 CDMs and 20 CDKs) across 11 cities.

For more information please visit www.sc.com/pk or follow Standard Chartered Pakistan on Facebook.

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