Standard Chartered Q3 profit rises 16%, beating forecasts

[HONG KONG] Standard Chartered reported third quarter profit rose a better-than-expected 16 per cent on Wednesday, as a surge in business from corporate clients helped it weather unrest in its core market of Hong Kong and global trade tensions.

StanChart's pretax profit for the three months ended Sept 30 increased to US$1.24 billion from US$1.07 billion in the same period a year ago, above the US$1 billion average of analysts' forecasts compiled by the bank.

REUTERS