SINGAPORE/LONDON :Standard Chartered rode a recovery in pandemic-hit markets to post a stronger-than-expected pre-tax profit for the third quarter on Tuesday, aided by lower credit charges and growth in trade finance.
Still, StanChart's London-listed shares have underperformed rivals since then, and are up 8per cent this year versus a 18per cent rise for HSBC and 37per cent surge for Barclays.The London-headquartered bank's overall quarterly income rose 7per cent to US$3.8 billion from a year earlier. StanChart reported credit impairment charges of US$107 million in the third quarter versus US$353 million a year earlier and said it expects these to remain at low levels in the fourth quarter.
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