Standard Chartered Reports 16% Increase in Pre-Tax Profit for Last Year

Standard Chartered Group reported a 16% rise in basic pre-tax profit to $7.9 billion last year. According to RTHK, Hong Kong contributed the most to this profit, with $2.66 billion, marking a 40% increase year-on-year. The region's operating income reached $5.35 billion, up nearly 17% from the previous year, while credit impairment narrowed by about 5% to $250 million. In contrast, basic pre-tax income in mainland China fell to $376 million, a decrease of nearly 24% year-on-year. Meanwhile, the UK operations turned profitable, earning $240 million compared to a loss of over $190 million in the previous year. Focusing on the fourth quarter alone, Hong Kong's basic pre-tax profit exceeded $680 million, a year-on-year increase of nearly 130%, with operating income rising by almost 19% to $1.35 billion.