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StanChart expects double-digit profit rise

Peter Sands, chief executive of Standard Chartered, has said the bank is confident it can maintain double-digit income and profit growth, Reuters has reported. The bank's revenue is expected to grow in line with costs and it would continue hiring in 2012 and beyond, he said. Asia-focused Standard Chartered made a record 17% increase in first-half profits in August, as a booming Hong Kong market and increased restraint on costs outweighed a slump in India.