Standard Chartered Misses Profit Estimates in 2016: Is Strategy Effective?

[kreslik.news]

Standard Chartered has become the latest European lender to suffer from a dearth of profitability on an annual basis, with its 2016 missing the mark from street estimates, despite a dramatic reversal off of last year’s $1.52 billion pretax loss.

For 2016 however, the lender posted a pretax profit of $409 million, which despite being in positive territory did reflect a disappointment for investors and analysts who had been pricing in a larger figure.

On a boarder scale, the aggressive cost-cutting mechanisms and agenda Standard Chartered has executed could finally be starting to show some dividends. Over the past couple, the group ... (read more)