August 1, 2019 / 4:27 AM / 4 months ago

StanChart first-half profit rises 3%, beats forecasts

HONG KONG/LONDON, Aug 1 (Reuters) - Standard Chartered PLC posted a 3% rise in its first-half profit on Thursday, beating market expectations, as the bank boosted revenues in its core Asian markets and managed to rein in costs.

Pretax profit for StanChart, which focuses on Asia, Africa and the Middle East, increased to $2.41 billion in the January-June period from $2.35 billion in the same period last year, the London-headquartered bank said in a stock exchange filing.

The latest profit compared with the $2.23 billion average of 11 analyst estimates compiled by Standard Chartered. (Reporting by Sumeet Chatterjee in Hong Kong and Lawrence White in London; Editing by Muralikumar Anantharaman)

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