Stay informed with free updates
Simply sign up to the UK banks myFT Digest — delivered directly to your inbox.
Standard Chartered increased profits and beat market expectations in the first quarter, although the bank warned on the coming impact of President Donald Trump’s trade war.
The Asia-focused lender reported 10 per cent higher pre-tax profits of $2.1bn for the first three months of 2025. That compared with $1.91bn a year earlier and the $1.905bn average of analyst forecasts compiled by the bank.
Stanchart’s return on tangible equity — a measure of profitability — increased by 1.3 percentage points to 14.8 per cent.
But Bill Winters, group chief executive and the longest-serving UK banking chief, warned the impact of US trade tariffs on clients was still ahead.
“Imposition of trade tariffs has increased global economic and geopolitical complexity, and we remain watchful of the external environment,” he said in a statement on Friday.
“Our presence in structurally high-growth markets across Asia, Africa and the Middle East is key to driving long-term sustainable value for our shareholders, and we remain focused on reinforcing these competitive advantages to drive future growth.”
Net interest income in the first three months of the year increased by 3 per cent year-on-year to $1.6bn at constant exchange rates. The other key driver of increased income at the bank was its wealth management division, which increased operating income by 28 per cent on a constant currency basis, as customers piled into cross-border investment products and bancassurance.
