Standard Chartered (02888) announced its financial results for the first quarter of 2026, with operating revenue reaching a record $5.9 billion, a 9% increase. This growth was driven by strong performances in both the wealth solutions and global banking businesses, each achieving quarterly records. Operating expenses rose 1% year-on-year, while disciplined cost management enabled the group to deliver an 8% positive income-to-cost growth spread. Credit impairment charges totaled $296 million, equivalent to an annualized loan loss rate of 32 basis points, which included a general provision of $190 million set aside as a precaution against uncertainties related to Middle East conflicts. As a result, profit before tax on a statutory basis reached $2.5 billion, up 17%, while earnings per share increased 31% to 74 cents, benefiting from a reduction in the number of shares and improved profitability. The group maintained strong capital and high liquidity, supported by a well-diversified and stable deposit base. The common equity tier 1 capital ratio stood at 13.4%, remaining within the target range of 13–14%. The liquidity coverage ratio was 151%, reflecting prudent asset and liability management. Adjusted net interest income increased 1%, as benefits from higher transaction volumes and optimized debt portfolios were partially offset by interest rate cuts and margin pressure. Adjusted non-interest income rose 16%. Wealth solutions revenue grew strongly, driven by active client engagement across multiple asset classes in investment products and net inflows from new affluent clients. High lending volumes and active capital market activity contributed to the global banking division’s robust performance.
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