StanChart reels in record profits
STANDARD Chartered notched up a 10th successive record year as profits rose one per cent in 2012, just below expectations.
A big fine for breaking sanctions on Iran countered strong growth in its core Asian markets.
London-listed Standard Chartered reported a pre-tax profit of $6.9bn (£4.5bn) for 2012, up from $6.8bn in 2011 but short of the average analyst forecast of $7bn.
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Hide AdThe bank has ridden Asia’s rise through the last decade and said it hired just over 2,000 staff last year.
It said it cut its bonus pool by seven per cent after its $667m fine from US regulators for breaching its sanctions on Iran and three other countries.