People walk past the main branch of Standard Chartered in Hong Kong.

Asia-focused British bank Standard Chartered slashed dividends by 50 percent on Wednesday after profits plunged in the first half of the year, its first result under new leadership as it struggles to return to growth.

Net profit slumped 36.7 percent in the six months to June compared to the same period in 2014, with pre-tax profits nosediving 44 percent.

Shareholder dividends were cut by half from 28.8 cents per share to 14.4 cents per share.

Group CEO Bill Winters, former co-head at JP Morgan, took the reins from Peter Sands in June after shareholder calls for a boardroom cull following profit warnings.

Last month Winters appointed a new management team reporting directly to him as he tries to cut costs and improve performance.

But there was little cheer in the first-half results.

"We have delivered good progress on our target of strengthening the group's capital ratio and will continue to do so," said chairman John Peace in a statement to the Hong Kong stock exchange.

"However, these actions have also impacted our return on equity, and combined with a disappointing earnings performance and the current near-term outlook for the group, the board has decided to reduce the dividend by 50 per cent," he said.

Winters said the bank faced some "very real challenges".

"But they are fixable and it is important to remember that there is a strong business at the heart of the group," he said.

Net profit dropped from $2.31 billion to $1.46 billion, with adjusted profit before tax down from $3.27 billion to $1.82 billion.

Revenues were down eight percent while impairment losses on loans almost doubled.

Analysts said although the dividend cut was sharp, investors would be pleased the bank had not taken more drastic capital raising measures.

"The overall result is short of expectations. As an international bank, it isn't running as smoothly (as it should)," said Jackson Wong, associate director for Simsen Financial Group.

But he added: "No capital raising plan is welcomed by shareholders. Investors are holding on for Bill Winters to take the bank to a new direction."

Others said the dividend cut would affect sentiment.

"They are keeping the cash close to their chest. It's not good news. People don't like dividend cuts," said analyst Francis Lun.

"Standard Chartered is still facing a challenging environment in the second half."

Shares in the bank were up 0.7 percent in morning trading in London.

Standard Chartered survived the 2008 global financial crisis without state assistance, unlike many of its peers.

However it has suffered in recent times from a growth slowdown in emerging market economies in Asia, Africa and the Middle East, the regions from which it makes about 90 percent of its profits.

In 2014 it was also hit by a $300 million fine from New York state's banking regulator for failing to detect possible money-laundering.

That came two years after it had paid US regulators $667 million to settle charges that it violated US sanctions by handling thousands of transactions involving Iran, Myanmar, Libya and Sudan.

The bank's net profit fell by 37 percent in 2014, the second consecutive year of decline, prompting bosses to announce in March this year that they would forgo their bonuses.

Standard Chartered said in January it would axe 2,000 jobs around the world in 2015 as it tries to make savings of $400 million in a structural overhaul.

The central bank has asked the scheduled banks to let the residents of former enclaves open accounts with only Tk 10. The Bangladesh Bank has also ordered them to give loans from its refinancing fund and provide agricultural credits to the residents of the enclaves, which became part of Bangladesh on Aug 1.Bangladesh Bank's Agricultural Credit and Financial Inclusion Department issued separate orders on Monday. In the order pertaining to the bank accounts, the central bank said the banks cannot charge any fee for these accounts. It also asked for updates on 'Previously Enclave Dwellers Account' every three months.In the other circular, the Bangladesh Bank says residents of the erstwhile enclaves have been included along with small, marginal, and landless farmers, low-income professional affected by natural disaster, and marginal or small businessmen with the Tk 10 accounts for the entitlement of central bank's refinancing fund. It said the order to disburse agricultural loans among these people was in line with agriculture and rural credit policy and aimed at overall development, ensuring proper use of land, their rights like other citizens and expansion of agriculture in these areas. In a circular on Sunday, the central bank asked the banks to prioritise Corporate Social Responsibility programmes for the development of these areas.A total of 111 enclaves were included in Bangladesh's map while India got 51 in the exchange.

Britain's government has begun selling its majority stake in bailed-out Royal Bank of Scotland (RBS) to reduce state debt and kick-start the lender's full return to the private sector, the Treasury said Tuesday.The government has sold 5.4 percent of RBS for £2.1 billion ($3.3 billion, 3.0 billion euros), a statement said. Royal Bank of Scotland was rescued with £45.5 billion of public money in 2008 at the height of the global financial crisis.The world's biggest bank bailout handed Britain's government with about 80 percent of the Edinburgh-based lender.RBS has since reported losses totalling about £50 billion and has axed more than 30,000 jobs, with thousands more reportedly set to follow."The government has today begun the process of selling its shares in the Royal Bank of Scotland. It has sold 5.4 percent of the bank at a price of 330p per share," the Treasury said Tuesday."The £2.1 billion raised from the sale will be used to pay down the national debt."But with the state having bailed out RBS at a cost of 500 pence a share, the taxpayer is taking a sizeable hit on the sale.Finance minister George Osborne insisted that the move was "an important first step in returning the bank to private ownership, which is the right thing to do for the taxpayer and for British businesses".He said the move would "promote financial stability, lead to a more competitive banking sector, and support the interests of the wider economy."Back in February, Royal Bank of Scotland said it would end investment banking in the Middle East and Africa and significantly reduce its presence in Asia and the US after a seventh straight annual loss for 2014.But it recorded a 27-percent rise in net profits for the second quarter of this year, with the sale of US operations offsetting higher exceptional costs.

Union Bank Training Institute, equipped with all modern training facilities as arranged its inaugural ceremony at 7th floor of its Head office on 28th July, 2015. Md. Abdul Hamid Miah, Hon’able Managing Director of Union Bank inaugurated the Institute as Chief Guest while Syed Abdullah Mohammed Salehand S.A.M. Salimullah Hon’able DMDs were present as special guest. All Divisional Heads were present on the occasion. The ceremony was presided over by Md. Hedayet Ullah, In-Charge of the Institute. The guests expect that using all modern technological facilities the institute will able to provide international standard Banking training.