Check out Standard Charter's 4 targets in 2013

After a slight increase of 1% in FY12 profits.

According to Maybank Kim Eng, Standard Charter stated that they are still eyeing 1) double digit revenue growth, 2) double digit EPS growth, 3) Cost growing in line with income and 4) mid-teen ROE. SCB generally achieve the target in FY12 (if excluding settlement with US authorities).

The company's FY12 attributable profit was USD4,786m, up 1% YoY, broadly in line with market estimates (USD4,762m, -1.8%).

Here's more:

Profit before tax was up 1%, slightly beat estimates (flattish). Excluding USD667m settlement with authorities and some one-off items, profit grew by 15% YoY.

Pre-provision operating profit (“core profit”) rose by 6% YoY, while provisions were up 39% YoY, which are higher than expected, partly due to small number of large exposures in India and UAE. 

Operating expenses increased 10% YoY, primarily due to the USD667m settlements with US authorities, and USD86m relating to a legacy commercial
legal provision. Excluding one-off items, operating expenses rose 3% YoY.

But management expected expense related to regulations will continue to grow. By geography, Hong Kong was still the biggest contributor. Profit before tax (PBT) in Hong Kong was up 7% YoY with income related to RMB business up 30% YoY, and contributed 24% to the group.

PBT in Korea was up nearly 200%, mainly due to the property sales in Korea which generated USD74m gain.

Group interest margin was flattish at 2.3%. NIM improvement came from India and Korea. NIM in Hong Kong dropped from 1.8% to 1.6% in FY12, difference
from the trends witnessed in some local banks which released FY12 results.

Management said it is just mainly because loan grew at a faster pace than deposit. Capital position weakened in FY12, from 13.7% in Dec11 to 13.4% in Dec12, primarily due to the impact of the settlement with US authorities. 

SCB has reported unbroken income profit and growth for 10 years, reflecting the management’s execution ability.

DPS rose by 11%. Management indicated a further growth in FY13. Management also indicated that consumer business has so far performed significant better than same period in FY12.