Standard Chartered Gets Boost Where HSBC Flagged Setbacks
- More revenue from Europe, Americas fuels surprise profit jump
- Lender also says it earned more in Hong Kong, beset by unrest
This article is for subscribers only.
Standard Chartered Plc is showing strength where HSBC Holdings Plc cited weakness.
The lender generated 19% more revenue in Europe and the Americas in the third quarter -- regions HSBC flagged as disappointing this week as it vowed an overhaul. Standard Chartered’s results there, combined with a 2% increase in revenue from Greater China and North Asia, sent adjusted pretax profit up 16%, defying analysts’ predictions for a slight decline.