StanChart sees Q1 profit decline on Asian currency weakness

HONG KONG (Reuters) - Standard Chartered said its first-quarter profit was likely to be down by a high single-digit percentage compared with last year, thanks to weakness in Asian currencies including the Indian rupee and Indonesian rupiah.

London-based Standard Chartered, which earns about four-fifths of its income from Asia, said in its interim management statement on Thursday that the group's expenses were flat on the same period last year.

The bank does not issue full quarterly numbers and releases its earnings twice a year.

Income would be down by a low single-digit percentage compared to the same year-ago period, the bank said.

Join ST's Telegram channel and get the latest breaking news delivered to you.