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Standard Chartered PLC on Friday reported higher profit for the first quarter of 2025, supported by broad-based income growth across wealth management, global markets and banking, despite increased credit impairments. The London-based lender said pretax profit rose 13% to $2.10 billion in the three months to March 31 from $1.91 billion a year earlier. Diluted earnings per share climbed 21% to 55.1 cents from 45.4 cents. Underlying net interest income rose 5.3% to $2.80 billion from $2.66 billion. Operating income increased 4.6% to $5.39 billion from $5.13 billion, led by double-digit growth in Wealth Solutions, Global Markets and Global Banking. Wealth income grew 28% year-on-year, driven by investment products and bancassurance. Global Markets income rose 14%, while Global Banking was up 17%. Credit impairment charges increased to $219 million from $176 million a year ago, reflecting higher delinquencies in retail and digital lending portfolios. The annualised loan-loss rate rose to 25 basis points from 23. Despite a volatile geopolitical environment and rising trade tensions, the bank maintained its full-year guidance, including a return on tangible equity approaching 13% by 2026. Underlying RoTE for the quarter rose to 16.4% from 15.2%. Chief Executive Officer Bill Winters said: ‘Our ability to help clients manage their business and wealth across borders in times of volatility reinforces our confidence that we can continue to improve returns.’ Standard Chartered’s CET1 ratio was 13.8% at the end of March, down from 14.2% at year-end, mainly due to the $1.5 billion share buyback announced in February. The bank said it remains well-capitalised and expects to return at least $8 billion to shareholders between 2024 and 2026. Guidance for 2025 and 2026 remains unchanged. Shares in Standard Chartered closed 1.8% up at 1,095.50 pence in London on Thursday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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