LONDON (MarketWatch) -- Emerging markets-focused bank Standard Chartered reported a 4.7% rise in its 2009 net profit Wednesday as it continued to grow its market share and said it has had a good start to the new year.



The bank reported a net profit for the year of $3.28 billion compared to $3.13 billion in 2008. The figures represent the seventh successive year of record income and profits, Standard Chartered



Impairments losses on loans and other credit risk provisions rose 51% to $2 billion, but were more than offset by higher fees and net interest income as well as a stronger trading income.



The bank said the results were driven by a stronger performance in wholesale banking, where its operating result improved in all regions except the Middle East, which was hit by a sharp rise in loan impairments.



In consumer banking, operating profit was lower across most region as lower margins weighed on net interest income in the division.



CEO Peter Sands also gave an upbeat outlook fort the business, saying 2010 has started well for both wholesale and consumer banking.



"For the group as a whole, income and profit were higher than in January 2009, and we started very fast in 2009," Sands said.



He added that impairments are declining in both divisions, but that the bank remains "watchful" due to the economic risks that remain.



Analysts said the figures were broadly in line or slightly ahead of market expectations and should be relatively well received.



"The momentum that was evident across the group in the first half of 2009 continued into the second half," said Keefe, Bruyette & Woods analyst Mark Phin.



"All in all, a solid set of numbers, with no negative surprises in the Middle East and the balance sheet stronger than we expected," he added.



Shares in the bank rose 0.7% on the London Stock Exchange as the benchmark FTSE 100 index edged lower.



The stock has nearly tripled in value over the last 12 months and is just 7% below its peak in late 2007.