StanChart annual profit falls 84% on bad debts, plunging commodities

The bank said its underlying 2015 pretax profit was $800 million

Standard Chartered said on Tuesday its annual profit fell 84%, as weaker global financial markets, tumbling commodity prices and rising loan impairments continued to hammer revenues at the emerging markets-focused bank.

StanChart said its underlying 2015 pretax profit was $800 million, less than a fifth of the previous year's total of $5.2 billion. That was lower than analysts' average estimate of $899 million, according to Thomson Reuters data.