Standard Chartered Plc sees early signs of European banks deleveraging in Asia, its Asia Chief Executive Jaspal Bindra said here on Thursday.

He also said the bank's total China loan book was less than 5 percent of its total book.

The Asia-focused bank, which gets about 80 percent of its profit from emerging markets, warned in December that income growth in 2011 would be just below its 10 percent target as the euro zone debt crisis slowed deal activity.

Bindra is a former UBS AG and Bank of America executive who moved up to the StanChart board in 2010. He arrived at StanChart in 1998.

A depreciation in Asian currencies has hurt income for the bank, which reports its earnings in U.S. dollars, while India and South Korea continued to perform poorly.

The bank, which started life financing trade between Europe, Asia and Africa in 1853, expects its wholesale banking operations to drive future growth.

(Reporting by Kelvin Soh; Editing by Chris Lewis and Jonathan Hopfner)