Standard Chartered PLC Profit Jumps 17% as Wealth Push Blunts Middle East Charge
Standard Chartered reported a record first-quarter pretax profit of $2.45 billion, up 17% and beating estimates, despite a $190 million charge linked to Middle East conflict. Shares rose 3.6% in London. Operating income hit $5.9 billion, with non-interest income up 16%. Credit impairment rose to $296 million, including the Middle East provision.