Standard Chartered, the emerging markets bank, has said its net profit rose by 25% to $2.8 billion in 2007, adding that it had largely escaped the US sub-prime mortgage crisis.
It attributed this to its strategy to focus on Asia, Africa and the Middle East. But debts written off by the bank still increased by 21% to $761m last year.
The group's pre-tax profit rose by 27% to a record high $4 billion. Revenue also hit an historic peak of $11 billion after a 28% rise in 2007.
