pretax earnings up 5.5%, defeats price quotes

Standard Chartered published on Thursday a 5.5% increase in its first-quarter pretax earnings, defeating price quotes, as greater rate of interest strengthened profits at the arising markets-focused lending institution.

StanChart, which makes a lot of its earnings in Asia, stated legal pretax earnings in the quarter was $1.91 billion. That compared to $1.81 billion a year previously and the $1.39 billion standard of 13 expert price quotes put together by the financial institution.