StanChart annual profit rises 46%, misses estimates

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXNPEG1Q0AN_L.jpg

HONG KONG/LONDON (Reuters) – Standard Chartered (L:) on Thursday posted a 45.5% rise in annual profit, weathering the economic fallout from global trade tensions and political protests in Hong Kong with revenue growth in its main markets.

The bank, which makes the bulk of its revenue in Asia, posted a pretax profit of $3.71 billion, up from $2.55 billion in 2018 and slightly below the $3.94 billion average of analysts’ forecasts compiled by the bank.

The bank said it would take longer to achieve its target of a 10% return on tangible equity previously targeted for 2021, after flagging in October that the goal had become more difficult amid worsening global economic conditions.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment