Standard Chartered 3Q Pretax Profit Rose 16% on Year
30 October 2019 - 4:22PM
Dow Jones News
By Yifan Wang
Standard Chartered PLC's (2888.HK) third-quarter pretax profit
rose 16% on year as income faster than costs.
The bank's pretax underlying profit was $1.24 billion in
constant currency terms, compared with $1.07 billion over the same
period last year, the lender said in a stock exchange filing on
Wednesday.
Net interest income rose 8.9% on year to $2.39 billion while
operating income was up 6.8% at $3.98 billion, the bank said.
Its net interest margin in the third quarter was 1.56%, down
from 1.62% in the previous quarter.
Third-quarter operating expenses were slightly lower at $2.50
billion from $2.51 billion a year earlier. The lender's credit
impairment stood at $279 million, up from $115 million a year
earlier.
"There are growing headwinds from the combination of continuing
geopolitical tensions and expectations of declining near-term
global growth and interest rates," the bank said.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
October 30, 2019 01:07 ET (05:07 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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