Standard Chartered first quarter profit rises 5.5%, beats estimates

Standard Chartered posted on Thursday a 5.5% rise in its first-quarter pretax profit, beating estimates, as higher interest rates bolstered earnings at the emerging markets-focused lender.

StanChart, which earns most of its revenue in Asia, said statutory pretax profit in the quarter was $1.91 billion. That compared with $1.81 billion a year earlier and the $1.39 billion average of 13 analyst estimates compiled by the bank.