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StanChart’s Q4 profit boosted by higher interest rates
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Standard Chartered PLC’s fourth-quarter profit rose as higher interest rates boosted the bank’s income and helped offset continued impairment pressure from its exposure to China’s real estate liquidity crisis.
The London-based lender said on 16 February that underlying pretax profit, which is adjusted for noncash items and exceptional or infrequent transactions, was $529m, compared with a restated profit of $439m in the year-earlier period.
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