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Wealth management recovery bumps StanChart CPBB profit by 60%

Amid soaring interest rates, Standard Chartered’s Consumer, Private and Business Banking (CPBB) unit saw 60% profit growth partly attributable to a recovery in its wealth management business and a 20% income growth in Asia. On a yearly basis In FY23, Standard Chartered’s CPBB profit before tax grew 60% to US$2,487 million, with operating income up 22% to US$7,106 million. This…

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