Standard Chartered PLC’s fourth-quarter profit rose as higher interest rates boosted the bank’s income and helped offset continued impairment pressure from its exposure to China’s real estate liquidity crisis.

The London-based lender said on 16 February that underlying pretax profit, which is adjusted for noncash items and exceptional or infrequent transactions, was $529m, compared with a restated profit of $439m in the year-earlier period.