Standard Chartered (2888) said its first-quarter underlying profit before tax in Hong Kong market rose 26.5 percent from the same period a year ago to US$711 million (HK$5.55 billion).
Operating income in the Hong Kong market rose 23.3 percent year-on-year to US$1.36 billion, while credit impairment surged 1.28 times to US$89 million.
In the first quarter, the Asia-, Africa- and Middle East-focused bank recorded an underlying profit before tax of US$2.28 billion, up 7 percent year-on-year.
Operating income for the period increased 7 percent year-on-year to U$5.4 billion on a constant currency basis.
In mainland China, underlying profit before tax rose nearly 58 percent year-on-year to US$150 million. Operating income dropped 2 percent to US$346 million, and credit impairment decreased 20.5 percent to US$35 million.
In other key markets, underlying profit before tax in Singapore rose 18 percent year-on-year to US$308 million, while India posted a 53.72 percent increase to US$186 million.
The United States saw a 215 percent rise to US$148 million.
STAFF REPORTER
