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Standard Chartered: profit up mid-single digit pct so far this year

Tuesday, 30 Oct 2012 | 4:19 AM ET

HONG KONG, Oct 30 (Reuters) - 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 licence 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 is on track for a 10th straight year of record profits.

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