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 plc, business news, earnings, banks,