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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5.00 | -0.66% | 751.00 | 751.20 | 751.40 | 767.00 | 748.00 | 756.00 | 4,302,855 | 15:41:58 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Commercial Banks, Nec | 18.02B | 3.47B | 1.2403 | 6.08 | 21.11B |
From May 2021 to May 2024
By Clarence Leong
Standard Chartered PLC's underlying pretax profit rose 44% to $1.075 billion for the third quarter, continuing on a recovery path as its operating income returned to growth and credit impairments eased further.
The bank's operating income rose 7.0% from a year earlier to $3.765 billion, as strong business momentum more than offset a lower net interest margin.
Credit impairment was $107 million for the quarter, down $246 million thanks to an improving economic backdrop, it said Tuesday, though its net interest margin fell 7 basis points on a normalized basis.
The bank said that it expects credit impairment to remain low in the fourth quarter, and that its income for 2021 will be similar to last year's on a constant currency basis. From next year, the bank says income growth should return to the 5%-7% guidance range.
Another Asia-focused bank, HSBC Holdings PLC, said last week that its third-quarter net profit more than doubled from a year earlier.
Write to Clarence Leong at clarence.leong@wsj.com
(END) Dow Jones Newswires
November 02, 2021 00:56 ET (04:56 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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