StanChart first-half profit rises 26%, beats estimates
The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo
HONG KONG/LONDON :Standard Chartered (StanChart) reported on Thursday its first-half pretax profit rose 26 per cent, beating analysts' estimates, as a strong performance from its wealth, markets and global banking businesses boosted revenue at the emerging markets-focused lender.
StanChart, which earns most of its revenue in Asia and Africa, said the reported pretax profit for the first six months of this year reached $4.38 billion. That compared with $3.49 billion a year earlier and the $3.83 billion average of 15 analyst estimates compiled by the bank.
The London-headquartered lender also announced a further $1.3 billion share buyback that it said would start imminently.
