Income gained 60% to $1.3 billion in India, thanks to an 82% growth in income from the wholesale banking unit. The wholesale banking segment, again, contributed more than 75% of income growth in China and it rose 73% to $498 million.

In Nigeria, income rose more than 60% to $140 million while firm growth continued in Pakistan, Taiwan and Korea.

Earnings Guidance and Share Price Review

Standard Chartered said it expected growth in the Asian markets, where most of its business is concentrated to continue to grow ahead of the U.S and Europe that have been affected by the credit market crisis.

Standard Chartered shares rose more than 6% in early trading Tuesday to 1,631 pence. At close Wednesday, the stock was down 0.35%.

Several financial institutions including UBS, Citigroup, Merrill Lynch and BNP Paribas have reported heavy losses owing to the sub-prime mortgage crisis in the U.S.