Standard Chartered's (HKG:2888) profit attributable to parent company shareholders rose 13% to $1.59 billion in the first quarter from $1.40 billion in the year-ago period, according to a Friday filing with the Hong Kong bourse.
Reported earnings per share at the bank increased 22% to $0.566 from $0.465 in the previous year. Visible Alpha analysts expected EPS at $0.53.
Underlying interest income jumped 5% to $2.80 billion from $2.66 billion a year earlier. Analysts at Visible Alpha estimated NII at $2.79 billion.
Meanwhile, operating income is expected to increase 5% to 7% from 2023 to 2026 at a constant annual growth rate excluding deposit insurance reclassification, the filing said.
Growth for the year is seen to be below the 5% to 7% range at constant currency, excluding notable items, the filing said.
Operating costs are seen to be lower than $12.3 billion in 2026, while assets are seen to growth in low single digits, and capital is forecast to operate within the common equity tier 1 ratio range of 13% to 14%, the filing said.
Shares jumped 3% during Friday's afternoon trading.
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