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StanChart Q1 profit beats estimates, gives bullish outlook

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SINGAPORE : Standard Chartered's first-quarter pre-tax profit rose 6 per cent, beating market expectations, as the emerging markets-focused lender benefited from rising interest rates and flagged a robust outlook.Statutory pretax profit for StanChart, which earns most of its revenue in Asia, increased to

SINGAPORE : Standard Chartered's first-quarter pre-tax profit rose 6 per cent, beating market expectations, as the emerging markets-focused lender benefited from rising interest rates and flagged a robust outlook.

The London-headquartered lender, which is focussed on Asia, Africa and the Middle East, said it now expects income growth this year to slightly exceed the previously guided 5-7 per cent range, underlining how banks' prospects are being lifted by rising interest rates even as the global economic outlook grows murkier.

 

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StanChart Q1 profit rises 6%, beats estimatesSINGAPORE : Standard Chartered's first-quarter pre-tax profit rose 6 per cent, 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, fro
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