Standard Chartered H1 Net Profit Drops 24%

Standard Chartered PLC SCBFF reported a 24% drop in its net profit for the first half of the year. The bank's net profit for the period fell to $2.13 billion, from $2.81 billion, in the year-ago period. Its operating income climbed to $9.75 billion from $9.37 billion, while operating expenses rose 3% to $5.03 billion. Standard Chartered shares closed at $23.52 yesterday.