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Citibank, Standard Chartered Bank post mixed Q2 earnings in Korea
Citibank, Standard Chartered Bank post mixed Q2 earnings in Korea
MoneyAug 14, 2020
Citibank and Standard Chartered Bank’s Korean subsidiaries posted mixed earnings in the second quarter, as per their disclosures Friday. The New York-based lender’s subsidiary bit the dust amid the coronavirus pandemic, with its net profit plummeting 72.4 percent on-year to 30.3 billion won ($25.5 million). This was mostly due to provisions set aside for coronavirus risks coupled with dissipated effects from the sell-off of its landmark headquarters tower last year. Its net profi