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StanChart India pre-tax profit falls 18% in H1

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BS Reporter Mumbai
Last Updated : Jan 25 2013 | 4:04 AM IST

Standard Chartered Bank on Wednesday said its pre-tax profit from India operations in the first six months this year declined 18 per cent to $311 million, from $378 million a year ago. Higher provisions in the wake of deteriorating asset quality and lower income from wholesale and consumer banking businesses hit the bank’s earnings.

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First Published: Aug 02 2012 | 12:14 AM IST

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