Published October 30, 2012
HONG KONG – Asia-focused Standard Chartered said its operating profit so far this year rose by a mid-single digit rate, dented by a settlement paid to New York regulators who had threatened the bank's license in the state over allegations it hid transactions with Iran.
Operating profit would have risen by at least 10 percent without that $340 million settlement, the bank said in a third quarter trading update posted on the Hong Kong bourse on Tuesday.
Any profit growth means Standard Chartered <2888.HK> is on track for a 10th straight year of record profits.
(Reporting by Kelvin Soh; Editing by Ian Geoghegan)