StanChart third-quarter profit rises 3%, beats estimates

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HONG KONG/LONDON :Standard Chartered (StanChart) reported on Thursday a 3 per cent rise in third-quarter pretax profit, beating analyst estimates, as strong wealth, global banking and markets businesses boosted revenue at the emerging markets-focused lender.

StanChart, which earns most of its revenue in Asia and Africa, reported pretax profit for the third quarter of $1.77 billion. That compared with $1.72 billion a year earlier and the $1.52 billion average of 14 analyst estimates compiled by the bank.

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