Standard Chartered Reports Strong First Quarter with 5% Profit Increase
The bank's focus on Asian markets and favorable interest rates contribute to robust financial performance.
- Standard Chartered's first-quarter profits rose by 5% to $1.22 billion, driven by strong business activity and strategic currency positions.
- The bank's wealth and retail arm saw a decline in profits, while credit impairment charges increased significantly.
- Investment banking performance remained steady, with a $1.6 billion profit recorded.
- CEO Bill Winters remains optimistic about growth prospects in India and the Middle East.
- Standard Chartered's share price increased by 5%, reflecting positive market reception to the quarterly results.
Evening Standard 
South China Morning Post 
CNA 
