HONG KONG/LONDON, Oct 30 (Reuters) - Standard Chartered ( SCBFF )
reported a 172% jump in third-quarter
pretax profit on Wednesday, ahead of analysts' estimates, as
slower-than-expected rate cuts continue to bolster the
emerging-market focused lender's revenue.
StanChart, which earns most of its revenue in Asia, said
pretax profit for the third quarter reached $1.72 billion, above
the $1.49 billion average of 17 analyst estimates compiled by
the bank.
The profit compared with $633 million a year earlier, when
StanChart took a nearly $1 billion combined hit from its
exposure to China's real estate and banking sectors.
The London-headquartered lender did not announce a fresh
share buyback for the quarter, unlike rival HSBC ( HSBC ).