StanChart announces $5.1 billion capital-raising plan

The announcement comes after the company posted a Q3 operating loss of $139 million

Standard Chartered announced plans on Tuesday to raise $5.1 billion in new capital via a rights issue and posted a third-quarter operating loss of $139 million due to growing regulatory costs and rising loan impairments in India.

The loss for the July-September quarter compares with a $1.5 billion profit in the same period a year ago.

Standard Chartered (StanChart) formally reports earnings every half-year, but since 2013 began giving more details of quarterly progress in its 'interim management statement'.