Standard Chartered Bank is riding high on success. It reported an operating profit of S$1 billion in Singapore last year, which had swelled by 17% from 2008. Wholesale banking and consumer banking are said to be two domains responsible for increase in earnings.

It is embarking on new developments in Singapore. Their first IPO is also coming up in Singapore.

Earnings from wholesale bank mounted by 37% to S$1.4 billion while profit from consumer banking increased 3% to over S$920 million.

Standard Chartered plans to pay $1.1 billion in bonus to retain staff after it incurred high profits in 2009. They also intend to give $3.2 million bonus to charity.

After India topped in profits, $1 billion last year, the bank has set plans for expansion in India. They plan to buy a stake in BSE with an intention to provide liquidity to Indian forex trading market. This is the first time that an overseas company has listed its parent group's shares in India. 19% of the bank's profit was added by India.

The bank has a financial history dating back to 1853 and hopes to go ahead in wholesale business, where profit grew over a third to USD 4.1 billion.