Standard Chartered 1st Half Pretax Profit Edges Higher
August 01 2019 - 1:26AM
Dow Jones News
By Saurabh Chaturvedi
Standard Chartered PLC (STAN.LN) on Thursday said its pretax
profit for the first half of the year rose 2.6%, helped mainly by
higher operating income and more loans to customers.
For the six months ended June 30, the pretax profit stood at
$2.41 billion, compared with $2.35 billion in the year ago period,
the lender said in a stock exchange filing. Its operating income in
the six-month period rose to $7.83 billion, up from $7.63 billion a
year ago.
The bank's first-half net profit attributable to the parent
company's shareholders, however, fell to $1.48 billion from $1.56
billion a year ago, while net profit attributable to ordinary
shareholders slipped to $1.26 billion from $1.34 billion a year
ago.
Operating expenses in the period rose to $5.30 billion as
compared with $5.19 billion a year ago. The lender's credit
impairment stood at $254 million, up from $214 million a year
ago.
Loans and advances to customers for the period rose to $263.60
billion from $259.33 billion in the same period last year, the bank
said. Its net interest margin was, however, unchanged at 1.59% from
a year ago.
The bank announced an interim dividend of 7 cents, up from 6
cents a year ago.
Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com
(END) Dow Jones Newswires
August 01, 2019 01:11 ET (05:11 GMT)
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