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StanChart announces $5.1 bln capital-raising plan, posts Q3 loss
November 3, 2015 / 4:41 AM / 2 years ago

StanChart announces $5.1 bln capital-raising plan, posts Q3 loss

HONG KONG, Nov 3 (Reuters) - Standard Chartered Plc 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’. (Reporting By Lawrence White; Editing by Muralikumar Anantharaman)

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