StanChart reports first annual loss in 26 yrs
UK-based financial services firm Standard Chartered on Tuesday reported a pre-tax loss of $1.5 billion for 2015, its first annual loss in 26 years, as the lender's loan impairments surged 87% year-on-year to $4 billion. In comparison, the company reported a profit of $4.2 billion in 2014. Meanwhile, the lender's India operations reported a loss of $981 million in 2015.