LONDON - Standard Chartered reported yesterday that profits rose 17 percent in 2008, driven by wholesale banking as the size of its assets swelled.

For the year ending Dec. 31, Standard Chartered reported a profit of $3.3 billion, up from $2.8 billion in 2007. Operating income rose 26 percent to $13.97 billion and total assets rose 32 percent to $435 billion. Standard Chartered shares were up 8.4 percent in morning trade yesterday in London.