SINGAPORE (Reuters) – Standard Chartered’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.
(Reporting by Anshuman Daga and Lawrence White; Editing by Kim Coghill)
