Standard Chartered (02888) said its loss attributable to parent company shareholders for the year ended 31 December 2016 narrowed to US$247 million from US$2,194 million for the previous financial year.
Loss per share was US14.5 cents.
Underlying profit before taxation amounted to US$1,093 million, up 31% year-on-year. Statutory profit before tax of US$409 million in 2016 was a significant improvement on the US$1.5 billion loss in 2015.
Due to a strong focus on returns and progress reducing exposures in the liquidation portfolio the Group's Common Equity Tier 1 (CET1) ratio increased 100 basis points in the year to 13.6%. The Group;s net interest margin declined 16 basis points year-on-year to 1.53%, largely driven by actions taken to improve the Group's risk profile as well as changes in product mix.
No dividend will be distributed for 2016.
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