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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Standard Chartered Plc | LSE:STAN | London | Ordinary Share | GB0004082847 | ORD USD0.50 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.00 | -0.13% | 755.00 | 751.00 | 751.20 | 767.00 | 748.00 | 756.00 | 9,254,104 | 16:35:01 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Commercial Banks, Nec | 18.02B | 3.47B | 1.2403 | 6.06 | 21.01B |
From May 2019 to May 2024
By Yifan Wang
Standard Chartered PLC said Thursday that its profit fell 40% in 2020, as sharply higher credit impairments and weak interest rates hurt profitability in a pandemic-struck year.
The Asia-focused bank posted pretax underlying profit of $2.51 billion last year, compared with $4.17 billion in 2019.
Operating income fell 3% to $14.77 billion, with net interest income declining 11% to $6.88 billion.
The lower interest income was mainly due to a narrower net interest margin, which fell 0.31 percentage point to 1.31% in 2020.
The lender expects its overall income in 2021 to be similar to the previous year, as the low-interest-rate environment continues to weigh on its business.
However, the bank said it expects income to resume growth of 5%-7% annually from 2022, as the global economic recovery would be led by large Asian markets, where Standard Chartered makes two-thirds of its income.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
February 24, 2021 23:57 ET (04:57 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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