Standard Chartered lowers profit forecast

Standard Chartered said its income for 2011 is now expected to grow at "just below a double digit rate" after a depreciation in Asian exchange rates against the dollar.

Standard Chartered said its income for 2011 is now expected to grow at "just below a double digit rate" after a depreciation in Asian exchange rates against the dollar.

Previously the bank forecast double digit revenue growth, but today it said it had been hit by Asian exchange rates falling by up to 5% since its third quarter statement.

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