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Standard Chartered first quarter profit rises 5.5%, beats estimates - TL;DR CNBC

Standard Chartered first quarter profit rises 5.5%, beats estimates

Publishing timestamp: 2024-05-02 04:25:55


Summary

Standard Chartered reported a 5.5% rise in first-quarter pretax profit, beating estimates, thanks to higher interest rates. Despite the positive results, the bank saw credit impairments worsen, particularly due to writedowns on its stake in China's Bohai Bank. Profit from joint ventures also slipped, indicating struggles in China.


Sentiment: MIXED

Tickers: 2888-HK

Keywords: standard chartered plcbusiness newsearningsbanks

Source: https://www.cnbc.com/2024/05/02/standchart-q1-2024-earnings-pretax-profit-up-5point5percent-beats-estimates.html


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