StanChart Q1 profit rises 6%, beats estimates

2022.04.28 07:40

FILE PHOTO: A logo of Standard Chartered is displayed at its main branch in Hong Kong, China, Aug. 1, 2017. REUTERS/Bobby Yip

SINGAPORE (Reuters) – Standard Chartered (OTC:SCBFF)’s first-quarter pre-tax profit rose 6%, beating market expectations, as the emerging markets-focused lender benefited from rising interest rates.

Statutory pretax profit for the bank, which earns most of its revenue in Asia, rose to $1.49 billion in January-March, from $1.4 billion a year earlier. This compared with the $1 billion average estimate of 16 analysts as compiled by the bank.

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