HONG KONG (Yosefardi) – Standard Chartered Plc booked profit before tax of $1,82 million in the first half of 2015, dropped 44% from the same period of 2014. Reported profit before taxation was $2,098 million, down 36%.
The performance reflects a combination of macroeconomic factors linked to weaker commodity markets and falling asset prices.
For Southeast Asia (ASEAN) booked operating income fell 16% to $1,617 million due to a 12% decline in client income and mark-to-market valuations on loan positions. ASEAN operating profit was $347 million, down 50%.
Cross-border exposure to Indonesia decreased during the first half of 2015, reflecting soft commodity prices and weaker economic growth rates in Indonesia.
The country cross-border exposure to Indonesia arising from Permata, a joint venture in which the Group holds 44.56 per cent, is counted at the value of the Group’s equity in the joint venture.