Standard Chartered (LSE:STAN) reported a record profit before tax of $2.5bn for the first quarter, up 17% at constant currency, with basic earnings per share of 74.2 cents, up 31% year-on-year and return on tangible equity of 17.4%, up 260 basis points.
Adjusted net interest income rose 1% to $2.9bn while adjusted non-interest income increased 16% to $3bn driven by Wealth Solutions (income up 32%) and Global Banking (up 19%), and operating expenses were well controlled at $3.1bn, up 1% leading to a cost-to-income ratio of 53%.
"We delivered a record first quarter performance in 2026, with double digit growth in Wealth Solutions and Global Banking," the company said.
Credit impairment charges were $296m, up $79m including a $190m precautionary management overlay relating to the Middle East conflict, and the balance sheet remained strong with underlying loans and advances and customer deposits both up 3% quarter-on-quarter and risk-weighted assets of $266bn.
The group reiterated 2026 guidance: reported operating income growth around the bottom end of 5-7% at constant currency, net interest income broadly flat, reported costs broadly flat (including the final year of Fit for Growth charges) and statutory RoTE greater than 12%, and it will set out its next phase of growth at an Investor Event next month.
