Standard Chartered denies bid rumours as rising rates buoy income

Standard Chartered (STAN) had been the subject of consistent (and consistently denied) bid rumours in the run-up to these results, as the emerging markets-focused commercial bank looked to deliver on its ambitious recovery plans. A year ago, investors would have been forgiven for asking whether there was any value to acquire as the bank struggled with a host of structural issues. The rise in global interest rates has certainly helped to lift Standard’s leaky ship, along with the rest of the sector. However, the impression remains that without the rise in rates, the bank would still be struggling with endemic problems.