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Standard Chartered Q1 profit down 64%

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Standard Chartered is contending with a sharp drop in revenue amid surging loan impairments after the commodity market crashed and growth stalled from China to India.

London

STANDARD Chartered Plc reported a 64 per cent drop in first-quarter profit as revenue fell in every business line.

Pre-tax adjusted profit was US$539 million for the first three months of 2016, down from US$1.5 billion a year earlier, the London-based bank said in a