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Standard Chartered 2020 pretax profit falls 57%, misses estimates

HONG KONG/LONDON, Feb 25 (Reuters) - Standard Chartered PLC (StanChart) on Thursday posted a 57% fall in annual profit, missing analyst estimates, as the Asia-focused bank struggled with fall out from the COVID-19 pandemic.

StanChart, which earns the bulk of its revenue in Asia, posted a pretax profit of $1.61 billion. That compared with $3.71 billion in 2019 and the $1.85 billion average of analyst forecasts compiled by the bank. (Reporting by Lawrence White and Alun John; Editing by Christopher Cushing)

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