Standard Chartered PLC posted on Thursday a 5.5% rise in its first-quarter pretax profit, beating estimates, as higher interest rates bolstered earnings at the emerging markets-focused lender. StanChart,

The London-based bank posted a rise in first-quarter net profit due to higher trading income despite lower earnings from lending.

Bank saw a 6% increase in reported pre-tax profit of $1.9billion in the first quarter, compared with $1.81billion the previous year and beating analyst estimates of $1.4billion.

By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) -Standard Chartered PLC beat forecasts on Thursday with a 5.5% rise in its first-quarter pretax profit, as the income boost from higher interest rates and a robust performance from its markets trading business offset a surge in credit losses.