Standard Chartered Bank India on Wednesday reported a 3 percent increase in pre-tax profits for 2013 at $ 697 million.

Income of this foreign bank from its Indian operations grew 7 percent in 2013 at $1,696 million.

Both wholesale and consumer banking businesses had good growth in income.

While wholesale banking income was up 7 percent to $1,230 million, consumer banking saw 6 percent increase in income at $466 million.

Commenting on the India performance, Sunil Kaushal, Regional Chief Executive India and South Asia said the bank had delivered a resilient performance in 2013, with both income and profits growing by double digits in constant currency.

"Both businesses have grown income well with consumer banking profits exceeding $100 million for the first time. Our outlook for 2014 is cautious and we expect the macro environment in India to remain somewhat challenging and uncertain", Kaushal said.

>srivats.kr@thehindu.co.in

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