Standard Chartered reported a first-quarter pre-tax profit of $2.45 billion.
This 17% increase exceeded analyst expectations. Wealth solutions income surged 32% to reach a record quarter. Global banking income rose 19% following increased capital markets activity.
The bank took a $190 million credit impairment charge as a precaution against Middle East conflict risks. Total credit costs for the quarter reached $296 million.
Standard Chartered maintained its full-year guidance. The bank is continuing its $1.5 billion share buyback program.