Standard Chartered will defer part of the bonuses for its best-paid employees, falling in line with other banks even though it has outperformed most of its peers during the financial crisis.

The London-based bank, which makes most of its money in Asia, said the higher the award, the greater the deferral. Executive directors got no salary increases for 2008 and at least 50 per cent of their annual bonus will be deferred, vesting over two or three years.