In the first quarter of 2018, the profit of Standard Chartered before tax grew by 20% year on year to $1 billion 260 million, thanks to the increased demand for loans and improved asset quality. Analysts had predicted the figure at 1 billion 210 million dollars. Operating income of the bank amounted to 3.9 billion dollars, increased by 7%. Depreciation of financial assets decreased by 29% compared with the first quarter of last year. After the release of quarterly results, Standard Chartered shares in Hong Kong grew by 0.8%.
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