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Standard Chartered Plc said operating profit for the third quarter fell 16 per cent as the Asia-focused bank grappled with rising costs from the restructuring of its South Korean business and an increase in impaired loans.
Operating profit for the July-September quarter fell to $1.5 billion from $1.8 billion in the same period a year ago.
StanChart has said it expects profits to fall in 2014 for a second straight year, as the lender faces a number of challenges, including a slowdown in growth in many of its core emerging markets and weak trading activity.
The bank is also under heavy regulatory scrutiny, having warned on August 6 that it faced its second fine in two years from New York's financial regulator for problems in its anti-money laundering controls.
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