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StanChart reports Q3 profit rises 78 pct
November 1, 2017 / 8:37 AM / 21 days ago

StanChart reports Q3 profit rises 78 pct

LONDON, Nov 1 (Reuters) - Standard Chartered on Wednesday posted a better than expected third-quarter profit of $814 million, as it avoided heavy losses from private equity and bad loans that hit earnings a year ago.

The bank’s pretax profit was higher than the $809 million average of analysts’ estimates, according to Thomson Reuters data.

Loan impairment fell 42 percent to $348 million, a closely-watched metric for StanChart which has been blighted by bad loans in recent years. (Reporting By Lawrence White, Editing by Simon Jessop)

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