Its London-based counterpart Standard Chartered bank announced yesterday an expected profit before taxation of $2.103 billion. This final rule applies to the three-month period ending March 2025. That’s an increase from last year’s $1.91 billion. This is quite the achievement, a clear bright spot despite the growing global economic headwinds we discussed earlier.
Bill Winters, Group Chief Executive of Standard Chartered, emphasized the bank’s resilience in a complex economic environment shaped by trade tariffs and geopolitical tensions. “We delivered a strong performance in the first quarter of 2025, with earnings per share up 19%, driven by double-digit income growth in Wealth Solutions, Global Markets and Global Banking,” he stated.
Winters understood that this bank’s highly unusual profits indicate very bad earnings. He said they only go so far in accounting for the impact of U.S. President Donald Trump’s tariffs on international trade. Even as turmoil continues in global markets, the “reciprocal” tariffs announced in April have been suspended, offering respite to manufacturers and consumers alike. Since March, tariffs on steel, aluminum, and automobiles have increased. These tariffs have included layers upon layers of complexity to the economic landscape.
Standard Chartered is stepping up to meet those challenges. They are advancing a major global, cost-saving programme—“Fit for Growth.” With a $1.5 billion dollar target over the first three years, the new Homeowner Assistance Program hopes to reduce costs by being launched in 2024. Winters was optimistic that the initiative would empower them to achieve better returns on investments, all while responding directly to the intense economic pressures created by escalating trade disputes.
The bank’s underlying net interest income (NII) was flat this quarter at $2.796 billion. Such stability is a function of a robust core earnings, despite the negative headwinds. Winters highlighted the bank’s commitment to maximizing returns for its shareholders. This commitment is unwavering, even as they face a reinvigorated global economic and geopolitical landscape full of complexities.
Standard Chartered only released its earnings a couple weeks ago. They announced a $1.5 billion share repurchase when disclosing their full-year results. This smart move reflects the bank’s focus on providing their shareholders, world-class service while maximizing cost efficiency.