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Standard Chartered 1Q22 profit beats estimates but WM income disappoints

Standard Chartered on Thursday beat estimates by posting a 6% rise in 1Q22 pre-tax profits to US$1.5 billion — better than a consensus estimate of US$1.04 billion — and a 1Q22 total income of US$3.9 billion (up 9% YoY). The sluggish performance in its Consumer, Private & Business Banking (CPBB) wealth management division was offset by a 27% increase in…

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