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StanChart’s 3Q2022 profit climbs despite drop in WM income

Photo by Chengting Xie on Unsplash

Asia-focused bank Standard Chartered reported a strong performance in 3Q22 even as income from its wealth management business fell by 15%. The London-headquartered group’s underlying profit before tax in the quarter surged by 35% to US$1.4bn YoY, a release on Wednesday said, fuelled by its markets unit’s record business performance, of which income was up 21%. Higher interest rates also…

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