British bank Standard Chartered has posted a net profit of $2.1bn for first-half of 2010, an increase of 11% compared to $1.88bn reported for the same half of 2009.

The bank said that its provisions for bad loans and other credit risks fell from $1.1bn a year ago to $437m in the first half of this year.

The bank posted operating income of $7.92bn in the first six month of 2010, compared to $7.96bn in the same period last year.

Profit before taxation in the first half of 2010 increased to $3.11bn from $2.84bn in the corresponding half of 2009.

John Peace, chairman of Standard Chartered, said: “We continued our strong performance in the first half of 2010 and both of our businesses have had an encouraging start to the second half. Despite the regulatory and economic uncertainties, our focus on the basics of banking will continue to hold us in good stead. Standard Chartered remains in excellent shape.”