FX.co ★ Standard Chartered Q1 Pretax Profit Rises

Standard Chartered (SCBFF.PK, STAC.L, STAN.L) has reported a pre-tax profit of $1.91 billion for the first quarter, a rise from the previous year's $1.81 billion. The earnings per ordinary share also increased, amounting to 45.4 cents, in comparison to last year's 39.8 cents. The underlying operating income saw a 17% increase, reaching $5.15 billion. The underlying earnings per share, denoted in cents, also rose from 36.8 to 51.7.

However, the first quarter's net interest income saw a reduction, dropping from $2.01 billion the previous year to $1.57 billion. Despite this, the underlying net interest income saw a 5% rise when considering constant currency, amounting to $2.4 billion.

Standard Chartered reaffirmed that the company's guidance for the full year of 2024 remains the same.