Standard Chartered takes a near $1bln China impairment charge
The downturn in the Chinese property and banking sectors has forced London-listed Standard Chartered to take a near $1 billion hit from its exposure to the Chinese economy.

It said third quarter (Q3) pre-tax profit fell by a third, much worse than analysts had expected, because of the one-off charge. StanChart, which earns most of its revenue in Asia, said statutory pre-tax profit for Q3 of this year fell to $633 million.
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