Standard Chartered reported a significant beat in first-quarter pretax profits, driven by strong net new money inflows. The bank also signaled confidence in its stability despite ongoing geopolitical tensions in the Gulf region.
- Pretax profit reached $2.45 billion, beating the $2.14 billion estimate
- Year-over-year pretax profit growth of approximately 17%
- EPS increased 31% Y/Y to 0.742
- Performance driven by strong net new money inflows
- Management expressed confidence regarding Gulf conflict risks
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