Standard Chartered - Record Profits

Standard Chartered bank posts record profits of US$ 4.75 billion for 2011, 12% higher than the previous year, a record for the bank and the ninth in a row of higher profits, inline with general estimates.

While the Bank is active in the UK, the majority of it's revenue comes from Asia where healthy growth has been seen from Hong Kong (+41%) and Singapore (+40%) though revenue has declined in India and Korea.

The bank's geographical spread and Asian focus, like HSBC, has meant they have not been dragged down by the Euro crisis and have benefited from the more positive economical environment in Asia though they have been hit by a US$ 165 million bank levy in the UK, comparatively small change.