StanChart profit up by 60%, structured notes distribution spikes

Standard Chartered finished the last quarter of 2023 on a high, with underlying pre-tax profit jumping 62% to US$1.06 billion compared with the prior year quarter, according to its latest earnings report. Operating income rose seven percent year-on-year (YoY) to US$4 billion in Q4 23. Performance was broad-based as three of our five largest Wealth markets, Hong Kong, China and Taiwan, all grew income at double-digit rates - Diego De Giorgi The UK bank’s wealth management (WM) business