StanChart Singapore's operating profit up 14% at US$416m
Improvement due largely to a 60% drop in loan impairment and restructuring efforts
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Apple nears deal with OpenAI to put ChatGPT on iPhone
Why companies are nervous about the consumer
Apple says no major app developers accept new outside payments
Shein steps up London IPO preparations amid US hurdles to listing, sources say
Apple scores win in labor case involving fired retail workers
US: Stocks closes up another weekly gain ahead of inflation data