Standard Chartered reported a 19% rise in net profit to US$1.9 billion for the first quarter of 2026, boosted by strong performance in wealth management [1]. The bank announced its quarterly results on Thursday, showing pre-tax profit at US$2.5 billion [1]. Net profit per share stood at 74.2 US cents [1].
Despite the profit growth, the bank cited challenges from lower interest rates and rising bad debt provisions affecting overall performance [1]. Credit impairment charges of US$296 million weighed on earnings, partly due to uncertainty linked to conflicts in the Middle East [1]. The annualised loan-loss rate was 32 basis points, supported by a US$190 million management overlay [1].
Chief Executive Bill Winters said the bank remained confident despite geopolitical tensions and global economic uncertainty. He noted, "Despite ongoing geopolitical tensions and global economic uncertainty, our advantaged market presence and disciplined risk management give us confidence in our ability to perform" [1].
The results reflect the first quarter of 2026, with the bank benefiting from strong wealth management growth offsetting pressure from credit costs and interest rates [1].
