By Sherry Qin Standard Chartered PLC's third-quarter underlying net profit dropped 30%, weighed by higher credit impairment and operating expenses. The...
Standard Chartered PLC's third-quarter underlying net profit dropped 30%, weighed by higher credit impairment and operating expenses.
The company recoded a $294 million credit impairment charge, up $62 million on year. The charge was mainly related to commercial real estate in China.The bank's underlying operating income came at $4.40 billion, 6% higher than in the same period last year. The topline growth was driven by an on-year increase in its net interest margin and the strong recovery of wealth-management income.
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