Financial Giant Standard Chartered Bank has noted India as its most profitable market. This for the first time, India has got this recognition at Standard Chartered Bank's profit book.

Previously, Hong Kong was the most profitable market for the bank. Bank's profit in India is noted to be $1.19 billion. This is 13% up from last year's $1.06 billion. This year special administrative region of China, Hong Kong gave Bank a profit of $1.10 billion.

Standard Chartered has its presence in 70 global markets, and India's contribution to Bank's profit now stands to be a fifth of its total profit. Neeraj Swaroop, country head, India said about bank's profit, "Our performance this year is not exceptional, it is in keeping with the consistent growth that we have posted record income and record profits as we gained market share." In India, bank's balance sheet saw an increase of 18-20% to 20 billion this year.

Calendar year serves as the accounting year for the Bank, and in 2010, bank noticed a profit of $6.12 billion before tax. For this year, bank had an income of $16.06 billion. Bank's profit for 2010 grew by 19% and revenue by 6%.

This year bank announced a dividend of 69.15 cents per share. This dividend is also 9% more than what bank gave last year. Bank's income from wholesale business was $1.5 billion. This figure is 3 times more than bank's consumer banking income.