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StanChart 1Q24 Headlines: Major Revenue Beat, Positive Credit

FINANCIALS

Standard Chartered (STANLN: A3/BBB+/A) results headlines look like a major (10.6%) revenue beat (lots is trading income, however) driving a >30% pre-tax profit beat.Loan losses lower than expectations and tiny China CRE charge. Relief for the equity but spreads have already performed well YTD so perhaps insufficient to drive another increment.


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Standard Chartered (STANLN: A3/BBB+/A) results headlines look like a major (10.6%) revenue beat (lots is trading income, however) driving a >30% pre-tax profit beat.Loan losses lower than expectations and tiny China CRE charge. Relief for the equity but spreads have already performed well YTD so perhaps insufficient to drive another increment.


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