Standard Chartered beats market expectations
Standard Chartered has beaten market forecasts with its latest results, as the bank made $1.6 billion for the fourth quarter before setting aside money for bad loans.
The bank did particularly well in its wealth management arm, according to Jefferies analysts, where income rose by more than a third compared with the same period last year. “Wealth Solutions revenue was a standout performance +36% YoY, as were Financial Markets revenues (+48%) – management call out a strong start to 2025 in both lines,” said Jefferies’ Joseph Dickerson.
The London-headquartered bank plans to buy back £1.5 billion ($1.9 billion) of its shares from investors, which is more than the $1.1 billion expected. That comes as the bank’s boss says the firm has made a strong start to 2025 across its main businesses.
“Good cost discipline has enabled us to generate positive income-to-cost jaws, even with continued underlying investments,” said Bill Winters, chief executive of Standard Chartered.
“Credit impairment rose 5 per cent year-on-year, mainly from higher charges in Wealth & Retail Banking (WRB), while Corporate & Investment Banking (CIB) benefitted from recoveries. The broader portfolios have proved resilient, and we remain vigilant in the face of a volatile global environment,” he added.
Analysts from JPMorgan say the results show Standard Chartered is on track to hit its return on tangible equity targets by 2026.
— Ganesh Rao
Stocks close lower
Stocks fell on Thursday as a weak outlook from Walmart pressured the broader market and worried investors about the health of earnings moving forward.
The Dow Jones Industrial Average slipped more than 450 points, or 1%, to close at 44,176.65. The Nasdaq Composite lost nearly 0.5% to end at 19,962.36, while the S&P 500 pulled back 0.4% to finish the session at 6,117.52.
— Brian Evans