Standard Chartered Reports 2016 Results
Standard Chartered reported an operating income of $13.8 billion in 2016. It was down 11% compared to 2015.
The private banking income was impacted by market volatility and actions taken to improve the risk profile of the segment. It recorded a a profit of $32 million in 2016 compared to the profit of $99 million in 2015 due to lower income and high expenses.
News Source: Standard Chartered Press Release
About Standard Chartered
Standard Chartered Bank (LSE:STAN) was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa. Operating in around 67 markets around the world, Standard Chartered Bank provides a wide-range of products and services for personal and business customers and generates more than 90 percent of income and profits from Asia, Africa, and Middle East.
- Origin : London, UK
- Assets : $ 640.48 billion
- Revenue : $ 15.29 billion
- Employees : 84,000
Official Website: www.sc.com
News & Media: Press Release
Updated on 8th August 2016