The UK-listed bank, which makes most of its money in Asia, the Middle East and Africa, said the stronger financial performance was achieved despite a year of global “disruption” and amid the looming threat of tariffs.
Standard Chartered’s chairman Jose Vinals said the improved financial performance was achieved in a year of major changes, “and in some cases disruption”, with many countries electing new leaders in 2024.
A record 19.7 billion dollars (£15.6 billion) of income was driven by stronger activity within its wealth division – which caters to high-net-worth customers – and growth in its global markets and global banking businesses.
Looking to the year ahead, chief executive Bill Winters said “looser financial conditions and expansionary fiscal policy may be partly offset by protectionist trade policies and interest rates that remain high”.
Standard Chartered has grown its yearly profit by nearly a fifth as the bank benefited from activity in international markets and its wealth division, and hiked its boss’s pay by nearly 50%.
