Standard Chartered's first-half net profit down 24 per cent
HONG KONG (AFP) - Standard Chartered on Tuesday said its first-half net profit fell 24 per cent, with some of its businesses in emerging Asian markets seeing slower growth.
The London-based, Asia-focused bank said net profit fell to US$2.13 billion (S$2.71 billion) for the six months to June 30, from US$2.81 billion in the same period last year.
Operating income went up four per cent to reach US$9.75 billion from US$9.37 billion in the previous year.
However, the emerging markets-focused bank was hit by a weak performance in Korea with revenue falling five per cent in the first half.