Standard Chartered’s retail banking arm registered an operating profit of $1.05bn for the year 2014, a fall of 6% compared with $1.11bn a year ago.
Operating income increased 2% to $6bn from $5.91bn the previous year. Client income too soared 1% to $5.73bn from $5.67bn in 2013.
Operating expenses for 2014 stood at $4bn, up 4% as against $3.86bn a year ago.
Customer loans and advances were $97.9bn, down 2% from $100.14bn in 2013. Customer deposits also saw a rise of 3% to $117.05bn from $114bn a year ago.
Overall, the group’s net profit for the year dipped 37% to $2.51bn from $3.99bn.
The bank’s CEO Peter Sands said that the bank plans to boost its capital strength this year by selling businesses and severing ties with some low-return clients, making a share sale unnecessary.
"We have no plans for a capital raise," he said.