StanChart Q3 profit rises 16%; flags growth, interest rate headwinds

HONG KONG/LONDON: Standard Chartered reported on Wednesday that third quarter profit rose a better-than-expected 16%, as a surge in business from corporate clients helped the bank 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 $1.24 billion from $1.07 billion in the same period a year ago, above the $1 billion average of analysts' forecasts compiled by the lender.