London-listed Standard Chartered, which earns the bulk of its revenues outside the UK, said its operating profit in the consumer banking division – which includes its private bank – stood at $348 million in the six months to 30 June, down from $802 million a year before.

Income on wealth management and deposits was $1.1 billion from $1.5 billion, Standard Chartered said in a statement.

For the group as a whole, pre-tax profits rose by 10 per cent to $2,838 million, up from $2,586 million in the first half of  2008. Total assets rose by 3.5 per cent to $411 billion from $397 billion.

Separately, Standard Chartered said that Alun Michael Rees, currently chief executive of its wholesale banking arm, had been appointed as group executive director with immediate effect. He reports to Peter Sands, group CEO. He will be based in London.

Standard Chartered also said it will raise about £1.0 billion by issuing new ordinary shares. The deal will by managed by JP Morgan Cazenove and UBS Investment Bank.