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Friday, 24 February 2017

Standard Chartered losses narrow after cost cuts

Standard Chartered losses narrow after cost cuts:

"Standard Chartered has made its second consecutive annual loss as the emerging markets-focused bank suffered another decline in revenues that offset the benefits of recent cost-cutting and lower bad debt impairments. StanChart, which is listed in London but mostly operates across Asia, the Middle East and Africa, reported a net loss of $478m, which trailed analysts’ expectations even though it improved on a $2.4bn loss in 2015 — its first for more than 15 years. Shares in StanChart, which have gained 92 per cent in the past year, fell more than 4 per cent to 720.8p in early trading on Friday."

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