8/3, 6:56 AM (Source: TeleTrader)
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StanChart's Q2 operating profit at $1.09B, down 20%

Standard Chartered PLC's underlying performance, reported on Tuesday, showed its profit before impairment and taxation in the second quarter of 2021 dropped by 20% on an annual basis to reach $1.09 billion.

Meanwhile, the company's operating income for the three months through June landed at $3.68 billion, declining by 1% on an annual basis, as its earnings per share increased to 24.8 cents when compared to last year's 10.4 cent-loss. For the first six months of 2021, the financial services company booked a profit of $2.56 billion, which is 24% lower year-on-year, with its operating income decreasing by 5% year-on-year to $7.61 billion. Additionally, its full-year earnings per share came in at 58.3 cents, improving by 62 cents a year-on-year.

"While progress is being made in tackling COVID-19, it seems set to remain an ongoing global challenge for the foreseeable future although we are starting to see a return to a semblance of normal life and a resurgence of economic activity in some markets now," said CEO Bill Winters.

Breaking the News / NL