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LONDON: Standard Chartered notched up a 10th successive record year as profits rose 1 per cent in 2012, just below expectations after a big fine for breaking sanctions on Iran countered strong growth in its core Asian markets.
London-listed Standard Chartered on Tuesday reported a pretax profit of $6.9 billion for 2012, up from $6.8 billion in 2011 but short of the average analyst forecast of $7 billion.
The 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 7 per cent after its $667 million fine from US regulators for breaching its sanctions on Iran and three other countries.
