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StanChart Q1 profit rises 18% as it begins recovery from coronavirus impact

HONG KONG, April 29 (Reuters) - Standard Chartered PLC posted on Thursday a higher- than-expected 18% rise in first-quarter pre-tax profit, as the emerging markets-focused bank began recovering from the economic hit caused by the coronavirus pandemic.

Pre-tax profit for January-March was $1.4 billion, versus $1.2 billion a year earlier, and compared with an average analyst forecast of $1.08 billion compiled by the British bank. (Reporting by Lawrence White in London and Alun John in Hong Kong; Editing by Muralikumar Anantharaman)

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