LONDON, March 2, 2011 /PRNewswire/ -- Standard Chartered, the Asia-focused bank, today revealed full-year profits up 19% and income up to over $16 billion.
In an interview with financial broadcaster http://www.cantos.com, Standard Chartered CEO Peter Sands said the growth was "very broad-based" across both the Bank's businesses and across multiple geographies.
Cost growth was running ahead of income growth as the bank absorbed higher wages and regulatory expenses while investing in the business.
Finance Director Richard Meddings was confident that the bank had control of costs. "We're quite clear that in 2011 we will be bringing our Jaws back to neutral; so cost growth broadly in line with income growth." he said.
The interviews and transcripts are available now on http://www.cantos.com/company/Standard+Chartered.
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SOURCE Standard Chartered PLC