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StanChart Q1 profit doubles to $1 billion as bad loans fall
April 26, 2017 / 8:37 AM / 8 months ago

StanChart Q1 profit doubles to $1 billion as bad loans fall

LONDON, April 26 (Reuters) - Standard Chartered on Wednesday reported its first quarter profit nearly doubled from a year ago, as the emerging markets-focused bank continued a modest recovery in earnings following a restructuring that has hit income.

StanChart said it made a pre-tax profit of $1 billion, up from $589 million in the same period a year ago, as revenues grew and impairments from bad loans fell sharply.

Reporting By Lawrence White, Editing by Anjuli Davies

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