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StanChart on track for 11th profitable year

Analysts estimate that the emerging markets-focused bank will deliver pre-tax profits of around $7bn for 2012

Standard Chartered, which fell foul of US regulators over the summer to the tune of $340m, remains on course for an 11th consecutive year of pre-tax profits, according to analyst estimates.

The emerging markets-focused bank released its interim management statement for the third quarter today. Peter Sands, chief executive of Standard Chartered, said that the bank continued to perform strongly over the period.

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