Dubai – Mubasher: Standard Chartered UAE reported on Wednesday AED 422.05 million in profit before tax (PBT) during the full-year 2017.
Loss of asset value dropped to $94 million last year, down from $272 million a year earlier, according to Al Khaleej newspaper.
Operating income tumbled to $733 million in 2017, while operating profit recorded $209 million in the same period.
Meanwhile, the bank’s assets in the UAE recorded AED 74.4 billion ($20.26 billion) in the last fiscal year, while loans and customers deposits rose to AED 41.5 billion ($11.30 billion) and AED 43 billion ($11.71 billion), respectively, the UAE-based newspaper said.
On Tuesday, Standard Chartered global reported turning a profit in 2017 and returning to dividend distributions. The London-based bank's profits reached $774 million last year, versus losses of $478 million in 2016.
