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Standard Loked Branch PLC BANK in Hong Kong
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Standard Chartered on Friday reported profit in the first quarter that beat Expectations on the back of the strong growth in your wealth management business.
Reportedly reported in the bank before the taxation for three months ended in March 2.103 billion dollars that compared to $ 1.91 billion in the same period of the year ago.
Here are the results of standard results in the first quarter of 2025 compared to consensus estimates A complex bank.
- Income to tax: $ 2.103 vs. $ 1.905 billion
- Basic Pure Interest (NII): $ 2.796 vs. $ 2.796 billion
“In the first quarter of 2025, we reached high rates, and the income per rally grew by 19%, due to the double-digit increase in revenue in the decision of wealth, world markets and world banking business,” the Group Executive Director Bill Winter said in a statement.
Investors pleased the results and the bank’s shares in Hong Kong increased by 2.57% after the release of the income report.
The banking decisions department has become a great performer during the quarter, placing 28% compared to last year’s operating income.
The standard business market is a 14% increase in the operating income for the quarter, which operates on a large height of credit. The global banking department felt a 17% increase in operating income.
The Bank, however, booked a $ 219 million loan fee in the 1 quarter, which is 24% compared to last year, and the bulk stems from its wealth and retail banking business, where growth rates began to strain repayment in certain unsecured portfolios.
“Going forward, we can probably expect that interest rates will decline, reducing the stress of such a borrower,” according to Michael McDada, senior analyst Morningstar.
The profit does not fully record the impact of tariffs on Trump because the “mutual” tariffs announced in April were stopped. However, since March there have been leggs on steel, aluminum and car dealerships.
Winters said while the introduction of trade tariffs increased global economic and geopolitical complexity, it was sure that the bank would continue to improve profitability.
“Our presence in the markets structurally high growth across Asia, Africa and the Middle East is a key to managing a long-term resilient value for our shareholders, and we are still focused on enhancing these competitive advantages,” said Winter.
The Bank also supported its recommendations for 2025 and 2026, predicting operating income to grow at a complex annual rate of 5-7% between 2023 and 2026.
A salary set comes after in February reported a standard cooked Annual profit in 2024 increased by 18% At the back of the record in its wealth and reliable results of the department of its markets. After the results of the full year were registered, the lender outdated in London called up to $ 1.5 billion.
Currently, the bank pursues the savings initiative called “Suitable for Growth” which it Rolled in 2024. It is aimed at saving approximately $ 1.5 billion in three years.
Just a few days earlier, Asian competitive bank HSBC announced the ransom of stock up to $ 3 billionWhich he sought to complete his temporary results in 2025.
