Standard Chartered’s third-quarter net profit rose 46 per cent as strong growth in wealth management and lower credit impairment buffered one of Hong Kong’s three note-issuing banks from provisions linked to geopolitical tensions.
The bank’s shares surged as much as 8.7 per cent after the earnings report was released, before paring gains to close 7.6 per cent higher at HK$219.80 on Wednesday.
Net profit increased to US$1.5 billion, or 68.9 US cents per share, in the quarter that ended on…
Source: www.scmp.com
