Standard Chartered swung to a net profit for 2017 and resumed its dividend, but despite a drop in impairment losses the bank's earnings still fell short of forecasts, MarketWatchreports.

The Asia-focused British lender said Tuesday it had recorded a net profit of $774m, compared with a net loss of $478m a year earlier. Net profit was below the average forecast of $1.66bn by 18 analysts in a FactSet poll.