Reported about 17 hours ago
Standard Chartered announced a 10% rise in quarterly profit to $2.1 billion, benefiting from strong performance in wealth and fee-based businesses, although it raised concerns about how increased trade tariffs might affect credit quality. CEO Bill Winters highlighted the growing complexity in the global economy due to tariffs, while the bank experienced a 24% increase in credit impairment. The results were positively received in the stock market, with shares of the bank reaching a five-week high.
Source: YAHOO