Standard Chartered Faces More U.S. Fines as Profit Drops
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Standard Chartered Plc said it faces further U.S. fines over efforts to block money laundering and posted a 20 percent earnings decline on losses in Asia.
Pretax profit, excluding adjustments to the value of the company’s own debt, fell to $3.3 billion in the first half from $4.1 billion in the year-earlier period, the London-based bank said in a statement yesterday. That matched the average of 11 analysts’ estimates in a Bloomberg survey.