The bank’s wealth management arm has seen its income from retail structured products as margin compression more than offset increased volumes.

The asset management arm of Standard Chartered has reported a fall in income of two percent to US$559m in Q3 21 year-on-year (YoY) despite double-digital growth in structured notes, funds and wealth lending. The decline was driven by bancassurance income, which fell by 15% YoY primarily due to US$53m accelerated recognition of an annual bancassurance bonus in Q3 20, which was not repeated in Q3 21, according to SC’s latest earning report. Excluding bancassurance, which accounted for a qua

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