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Standard Chartered Reports $2.5B First Quarter Profit

Bloomberg Radio London 14d14d Impact 5
Standard Chartered reported first quarter operating income of $5.9 billion, exceeding estimates of $5.58 billion. First quarter credit impairment charges for the bank totaled $296 million. The bank stated it will outline its next growth phase at an upcoming investor event. The London-headquartered bank brushed off concerns regarding the impact of the conflict in the Middle East. The bank reported pre-tax profit according to the report. The bank's pre-tax profit growth was driven by its wealth business. This figure is approximately $400 million higher than analyst estimates. The bank attributed the record earnings to its wealth business. CEO Bill Winters noted a $190 million charge linked to the Iran War but expressed confidence in the bank's risk management.

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Sources · 7 independent

Bloomberg Radio

“Standard Chartered, first quarter operating income at $5.9 billion versus estimates of $5.58 billion. Standard Chartered saying they will set out the next phase of growth at an investor event.”

Bloomberg Radio

“Standard charted meanwhile has brushed off concerns about the impact of the conflict in the Middle East as it reported record earnings driven by its wealth business.”

Bloomberg Radio

“driven by its wealth business. The London Headquartered Bank reported pre-tax profit.”

Bloomberg Radio

“The London Headquartered Bank reported pre-tax profit. its next steps.”

Bloomberg Radio

“The London headquartered bank reported pre-tax profit of $2.5 billion in the first three months of the year, some $400 million higher than estimates.”

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