HONG KONG/LONDON (Reuters) -Standard Chartered PLC beat forecasts on Thursday with a 5.5% rise in its first-quarter pretax profit, as the income boost from higher interest rates and a robust performance from its markets trading business offset a surge in credit losses. The bank, which makes the bulk of its revenue and profits in Asia, saw profit at its investment banking unit climb 13% in the quarter. Crucially, the bank grew fee-based revenues from markets and wealth management in particular, a key target for it and rivals as interest rates worldwide peak and cap the boost they have recently received from lending-based income.
Standard Chartered (LON:STAN – Get Free Report)‘s stock had its “overweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Thursday, Digital Look reports. A number of other brokerages have also recently commented on STAN. Keefe, Bruyette & Woods upgraded Standard Chartered to a “market perform” […]
Standard Chartered (LON:STAN – Get Free Report)‘s stock had its “overweight” rating reiterated by research analysts at JPMorgan Chase & Co. in a research report issued on Thursday, Digital Look reports. Several other brokerages also recently weighed in on STAN. Keefe, Bruyette & Woods raised shares of Standard Chartered to a “market perform” rating and […]