British financial services company Standard Chartered Plc suffered in 2015, the largest losses for the first time since 1989.
Last year, the Standard Chartered loss before taxes was $1.5 billion compared with $4.2 billion profit a year earlier, according to “Газета.Ru”.
The conglomerate revenues decreased 15% to $15.4 billion, the amount of problem loans increased from $2.1 billion to $4 billion in addition, the Bank spent $1.8 billion on restructuring, including written off $1 billion of the most risky loans.
“Our results for the year of 2015 is very weak and largely unacceptable. But 2016 will be another challenging year, no doubt about that,” commented the CEO of the Bank bill winters.
In 2015, the Bank’s assets decreased to $640 billion versus $726 billion in 2014.
