Standard Chartered’s pre-tax profits fell 30 per cent in the final three months of last year as the era of rising interest rates came to an end.
The bank reported statutory pre-tax profits of $800mn for the fourth quarter, down from $1.1bn a year earlier and missing analysts’ estimates of $983mn.
Chief executive Bill Winters said results for the full year, in which reported pre-tax profits rose 19 per cent to $6bn, were “strong”.
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