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Markets News

StanChart third-quarter profit slumps 40%

HONG KONG/LONDON, Oct 29 (Reuters) - Standard Chartered said third-quarter profit slid 40% on higher credit impairment resulting from the coronavirus pandemic.

Pretax profit came in at $745 million for the three months ended Sept. 30, down from $1.24 billion a year ago, but above the $502 million average of analysts’ forecasts compiled by the bank. (Reporting by Sumeet Chatterjee and Lawrence White; Editing by Edwina Gibbs)

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