StanChart H1 profit growth slowest in 10 yrs as key markets slow
HONG KONG Aug 1 (Reuters) - Standard Chartered reported on Wednesday a 9 percent rise in first-half pretax profit, its slowest growth for the period in a decade, as a cooling economy in key markets such as India hurt its wealth management income growth.
Asia-focused bank StanChart reported a January-June pretax profit of $3.95 billion, a record, up from a restated $3.64 billion in the same period a year ago.
That was slightly higher than expectations for $3.7 billion, according to the average of six analysts surveyed by Thomson Reuters I/B/E/S. It is in line with the company's guidance in June, when it said it expects pretax profit to rise by a high single digit percentage.
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