StanChart Singapore's operating profit up 14% at US$416m
Improvement due largely to a 60% drop in loan impairment and restructuring efforts
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Singapore
STANDARD Chartered Singapore on Friday reported a 14 per cent rise in underlying operating profit to US$416 million for the financial year ended Dec 31, 2016, amid lower loan impairments and a focus on restructuring for efficiencies.
Total loan impairment fell 60 per cent or US$158 million year on year. StanChart did not provide a specific breakdown of the profile of the loan impairments.
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