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BREAKING NEWS

StanChart reports third-quarter profit rises 78 percent

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StanChart reports third-quarter profit rises 78 percent

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LONDON (Reuters) – Standard Chartered <STAN.L> on Wednesday posted a better than expected third-quarter profit of $814 million, as it avoided heavy losses from private equity and bad loans that hit earnings a year ago. The bank’s pretax profit was higher than the $809 million average of analysts’ estimates, according to Thomson Reuters data. Loan impairment fell 42 percent to $348 million, a closely-watched metric for StanChart which has been blighted by bad loans in recent years.

(Reporting By Lawrence White, Editing by Simon Jessop)
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