StanChart Q1 profit doubles to $1 billion as bad loans fall

LONDON, April 26 (Reuters) - Standard Chartered on

Wednesday reported its first quarter profit nearly doubled from

a year ago, as the emerging markets-focused bank continued a

modest recovery in earnings following a restructuring that has

hit income.

StanChart said it made a pre-tax profit of $1 billion, up

from $589 million in the same period a year ago, as revenues

grew and impairments from bad loans fell sharply.

(Reporting By Lawrence White, Editing by Anjuli Davies)