Live Breaking News & Updates on Modest Profit Goals

Standard Chartered PLC on Thursday restored its dividend and reaffirmed its long-term profit goals, in a show of confidence about its ability to recover from the impact of the COVID-19 pandemic even as its annual profit more than halved. The Asia, Africa and Middle East-focused bank however warned that income in 2021 is likely to be close to last year, showing the challenge it faces to meet its modest profit goals in a world of rock-bottom interest rates. Boosting revenue has been Chief Executive Bill Winters' main headache in recent years, as slowing growth in many of the bank's key markets, a commodities downturn and low central bank rates all conspired to crush income. ....

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