Standard Chartered Plc bank branch in Hong Kong
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Standard Chartered on Friday beat first-quarter profit expectations on the back of strong growth in wealth solutions and global markets.
The bank’s reported profit before taxation for the three months ended in March was $2.103 billion, up from $1.91 billion in the same period a year ago.
Here are Standard Chartered’s first-quarter 2025 results compared with consensus estimates compiled by the bank.
- Profit before tax: $2.103 billion vs. $1.905 billion
- Underlying net interest income (NII): $2.796 billion vs. $2.796 billion
The earnings do not fully capture the impact of U.S. President Donald Trump’s tariffs, as the “reciprocal” tariffs announced in April were put on hold. However, levies on steel, aluminum and autos have been in effect since March.
The set of earnings comes after Standard Chartered reported in February that annual profits in 2024 surged 18% on the back of record growth in its wealth unit and robust results from its markets division. The London-headquartered lender had called for a $1.5 billion share buyback after the full-year results were reported.
The bank is also currently undertaking a cost-saving initiative called “Fit for Growth,” which it rolled out in 2024. It aims to save roughly $1.5 billion over three years.
Just a few days earlier, Asia-focused rival bank HSBC announced a share buyback of up to $3 billion, which it aimed to complete before its 2025 interim results.
