Standard Chartered bank expects high single digit growth
British bank giant says headwind from currency moves weakening and plans to hire more staff
Standard Chartered expects to report full-year revenue growth in the "high single digits", according to a statement from Britain's second-largest lender by market value.
The bank, which gets most of its profit in Asia, said pre-tax income might grow at a "mid-single-digit" rate, not including the effect of future settlements with United States regulators.
In late October, finance director Richard Meddings warned that the bank might miss its earlier growth target of at least 10 per cent.
The "headwind" from currency moves was decreasing, Standard Chartered - which is seeking a ninth consecutive year of record net income - said in the statement.
In October, the bank said revenue growth in the first nine months had been "impacted by the strength of the US dollar against Asian currencies".
Full-year revenue in markets including Africa, Malaysia, China and Indonesia might grow 10 per cent or more, the bank said.
The lender continued to see "significant opportunities" in Asia, Africa and the Middle East, chief executive Peter Sands said in the statement.
