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pretax profit up 5.5%, beats estimates


Standard Chartered posted on Thursday a 5.5% rise in its first-quarter pretax profit, beating estimates, as higher interest rates bolstered earnings at the emerging markets-focused lender.

Bloomberg | Bloomberg | Getty Images

Standard Chartered posted on Thursday a 5.5% rise in its first-quarter pretax profit, beating estimates, as higher interest rates bolstered earnings at the emerging markets-focused lender.

StanChart, which earns most of its revenue in Asia, said statutory pretax profit in the quarter was $1.91 billion. That compared with $1.81 billion a year earlier and the $1.39 billion average of 13 analyst estimates compiled by the bank.



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