The bank’s wealth management (WM) income fell 17% to US$530m in Q1 22 year-on-year (YoY) as a ‘challenging environment’ offsets record financial markets income.

Standard Chartered Bank (SCB) has reported a decline in wealth management (WM) income with Greater China North Asia ex-Hong Kong taking the hardest hit with a 32% income decline to US$104m. This was followed by Hong Kong SAR, which saw its income slide by 26% to US$176m in the first quarter YoY despite remaining the largest market for the UK bank.   According to Standard Chartered Bank’s Q1 22 earnings report, income generated from the wealth business in Singapore increased by t

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