FILE PHOTO: A logo of Standard Chartered is displayed at its main branch in Hong Kong, China, Aug. 1, 2017. REUTERS/Bobby Yip
February 17, 2022
SINGAPORE/LONDON (Reuters) – Standard Chartered’s pre-tax profit doubled from a year earlier, but the profit came below market forecasts on Thursday, as the emerging markets-focused lender gained from a recovery in pandemic-hit markets. Pretax profit for the bank, which earns most of its revenue in Asia, surged to $3.3 billion from $1.6 billion a year earlier. This compared with the $3.8 billion average estimate of 16 analysts as compiled by the lender.
The bank announced a $750 million sharebuyback.
(Reporting by Anshuman Daga in Singapore and Lawrence White in London; Editing by Carmel Crimmins and Sam Holmes)
Source: One America News Network
