StanChart, which earns most of its revenue in Asia, said statutory pretax profit for the third quarter of this year fell to $633 million.
That compared with $996 million a year earlier and the $1.41 billion average of 16 analyst estimates compiled by the bank.
Credit impairment charges rose by $62 million from the same period a year prior to $294 million, as the bank took a $186 million charge related to China's troubled commercial real estate market., which it said reflected subdued earnings at the lender and the challenging economic backdrop. The bank said it nonetheless remains confident of hitting its returns on tangible equity target, a key measure of its profitability, of 10% this year and 11% in 2024.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Asia markets mixed as Australia's third-quarter inflation figures higher than expectedAustralia's third quarter inflation rate stood at 5.4%, slightly higher than the 5.3% expected. The reading will give clues to the country's central bank moves when it meets on Nov 3.
Baca lebih lajut »
Seahawks Offense ‘Didn’t Play to Our Standard’ Despite WinThe Seattle Seahawks managed to ease past the Arizona Cardinals in a 20-10 win, but quarterback Geno Smith wasn't happy with how the offense performed.
Baca lebih lajut »
Harris County changes numbers of polling locations, still exceeding state standardEarly voting in Harris County began this week, and with so much at stake, one voter said it's not only essential but easy to vote when there are so many places to do it.
Baca lebih lajut »
Kenneth Force, standard-bearer of military music, dies at 83For nearly half a century, he led the U.S. Merchant Marine Academy Regimental Band, a mainstay of celebrations including the presidential inaugural parade.
Baca lebih lajut »
Study: Toddler formula is ‘unnecessary’; has no standard nutritional requirementsThe drinks aimed at toddlers are referred to as Older Infant and Young Child Formulas (OIYCFs) and are popular with parents.
Baca lebih lajut »
South Africa's sizzling top six set the standard at World CupSouth Africa flew into the Cricket World Cup a little under the radar but the awesome range of their power hitting has seen the side post the top three scores in the tournament, which stand-in captain Aiden Markram puts down to their adaptability.
Baca lebih lajut »