Standard Chartered's pre-tax statutory profit for the third quarter dropped by 54%, with the Hong Kong-listed Standard Chartered Group experiencing its largest decline in seven months.

According to BlockBeats news on October 26th, Standard Chartered Bank announced that its statutory profit before tax for the third quarter ending in September was 633 million US dollars, a year-on-year decrease of 54.49%. Its underlying profit before tax was 1.316 billion US dollars, a year-on-year decrease of 2.23%. Operating income was 4.523 billion US dollars, a year-on-year increase of 4.48%. Standard Chartered's credit impairment charges in the last quarter were 294 million US dollars, including further charges related to the commercial real estate industry in China. The book value of its investment in Bank of Bohai was reduced by 697 million US dollars. According to market data, the decline of Standard Chartered Bank's stock (02888.HK) expanded to 6.8%, marking the largest drop in seven months.