Source: www.reuters.com
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SINGAPORE/LONDON (Reuters) - Standard Chartered’s pre-tax profit doubled from a year earlier, but the profit came below market forecasts on Thursday, as the emerging markets-focused lender gained from a recovery in pandemic-hit markets. Pretax profit for the bank, which earns most of its revenue in Asia, surged to $3.3 billion from $1.6 billion a year earlier. This compared with the $3.8 billion average estimate of 16 analysts as compiled by the lender.
The bank announced a $750 million sharebuyback.
Reporting by Anshuman Daga in Singapore and Lawrence White in London; Editing by Carmel Crimmins and Sam Holmes
