Standard Chartered net profit up 2.7% YoY in H1

Wealth & Retail Banking generated operating income of $1.74b.

Standard Chartered net profit increased 2.7% year on year (YoY) to $973.8m for the first half of the year.

Profit before income tax rose to $1.13b from $1.11b.

Operating income increased 7.25% to $2.91b, whilst operating profit before impairment losses rose to $1.32b from $1.20b.

Total operating expenses increased to $1.59b, driven by higher staff costs despite lower other operating expenses.

On the balance sheet, total assets increased to $209.3b as of 30 June from $199.6b at the end of 2025.

Loans and advances to customers rose to $88.3b from $83.8b, whilst deposits from non-bank customers increased to $154.8b from $148.8b.

Total equity stood at $13.23b, up from $12.93b at the end of December.

Standard Chartered disclosed that it entered into a sale and purchase agreement on 15 May to transfer part of its credit card and personal loan portfolio to Trust Bank, its majority-owned subsidiary.

The transaction is expected to close in October 2026, when both the economic and legal ownership of the portfolio will transfer.

The consideration has not yet been measured with sufficient certainty.

By business segment, Wealth & Retail Banking generated operating income of $1.74b, up from $1.49b a year earlier, whilst Corporate & Investment Banking contributed $1.18b, slightly below the previous year's $1.19b.