Standard Chartered annual profit jumps 16 percent but misses market forecasts
The bank reported an annual pretax profit of $6.96 billion today as robust wealth inflows boosted revenue. These results fell short of analyst expectations.
Insights:
Standard Chartered PLC announced today that its full-year pretax profit rose 16% to $6.96 billion, driven by robust performance in its global banking business and strong wealth inflows. The result, while reflecting significant year-on-year profit growth, fell short of the $7.2 billion average estimate projected by analysts.
