Nucor earnings beat by $0.08, revenue fell short of estimates
Investing.com-- Standard Chartered PLC (LON:STAN) on Friday reported a 10% rise in first-quarter pretax profit, driven by strong performances in wealth management and investment banking, despite higher credit impairment charges and tariff uncertainties.
The London-based, Asia-focused bank’s reported pretax profit rose to $2.10 billion in the first quarter ended March 31, from $1.91 billion a year earlier, and 10% ahead of consensus estimates, according to brokerage Jefferies.
Hong Kong-listed shares of the company rose 1.5% as of 07:35 GMT.
The lender’s operating income climbed 7% to $5.4 billion, with wealth solutions revenue surging 28% and global banking income up 17%.
Net interest income rose 7% to $2.8 billion, while the net interest margin improved to 2.12%.
However, credit impairment charges increased 24% to $219 million. The non-linearity charge rose by $23 million, reflecting a higher probability for trade tensions amid increased tariff uncertainty, the company said.
Highlighting tariff risks, CEO Bill Winters said, "The subsequent imposition of trade tariffs has increased global economic and geopolitical complexity, and we remain watchful of the external environment."
The bank maintained its 2025–2026 guidance, targeting 5–7% annual income growth and a return on tangible equity (RoTE) approaching 13% by 2026.
Jefferies analysts said the maintained guidance indicates that StanChart’s second quarter "is off to a positive start."
"We remain of the view that the current tariff uncertainty is ultimately a growth issue not a credit one," analysts led by Joseph Dickerson added.
Ayushman Ojha contributed to this report.