 "A woman walks down the stairs of the Standard Chartered headquarters in Hong Kong")
Standard Chartered Bank’s Indian operations saw a sharp reduction in losses in 2016, mainly due to the lowering of impairment charges and other credit-risk provisions even as its underlying operating income was 10.6 per cent lower, the global bank’s annual report showed.
For 2016, the bank’s loss for the full year was $24 million (Rs 163 crore as of December 31, 2016), compared with $551 million (Rs 3,645 crore as of December 31, 2015) in 2015.
The bank had impairment losses on loans and other credit-risk provisions of $945 million (Rs 6,251.52 crore) in 2015, and those shrank to $414 million (Rs
