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4/29, 6:53 AM (Source: TeleTrader)
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StanChart's operating income up to $4.32B in Q1

Financial services company Standard Chartered PLC underlying performance reported on Wednesday showed its operating income in the first quarter of 2020 landing at $4.32 billion, rising 13% compared to the same time the year before.

On the other hand, the company's profit for the three months through March, decreased 37% to $517 million, while the underlying earnings per share (EPS) for the same period decreased by 2.3 cents to stand at 25.4.

"The unique characteristics of the Standard Chartered franchise are coming through strongly as the impact of COVID-19 evolves," the company's CEO Bill Winters said, adding: "We try to show every day that we are ‘Here for good’, as individuals and collectively, and I am proud of the way my 91,000 colleagues around the world are facing this challenge. Among the many support initiatives being rolled out across our 59 markets, we have launched a $50 million global fund with donations from colleagues and the bank to provide assistance to those affected by COVID-19 and related economic impacts and have committed up to $1 billion of financing, offered at cost, for companies that are providing goods and services to help in the fight against the pandemic. That’s in addition to the help we are providing all our clients as they face ongoing challenges. We won’t stop there and will continue to think of practical and impactful ways to make a difference."

Breaking the News / NL