May 2, 2025 10:27 AM IST
US Stock Market Live: Standard Chartered Beats Estimates In Q1
Standard Chartered on Friday beat first-quarter profit expectations on the back of strong growth in its wealth management and global markets businesses.
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.
“We delivered a strong performance in the first quarter of 2025, with earnings per share up 19%, driven by double-digit income growth in Wealth Solutions, Global Markets and Global Banking,” Group Chief Executive Bill Winters said in a statement.
The earnings do not fully capture the impact of US 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.
