The British company saw signs of improvement in market sentiment during the first quarter.
Standard Chartered PLC has released its Interim Management Statement for the first quarter ended March 31, 2019, revealing a solid financial markets performance particularly in foreign exchange (forex) and rates.
As highlighted in today’s statement, the British multinational company saw signs of improvement in market sentiment during the first quarter of 2019. Because of this, income for its financial markets segment was $749 million. This is higher by 3.5 percent year-on-year, or 29.1 percent quarter-on-quarter.
Income from the firm’s Forex sector came in at $299 million. When measuring this against the same period of the previous year, which achieved an income of $250 million, this is up by 19.6 percent. Compared against the previous quarter, Q1 of 2019’s income is up by 28.9 percent.
In the first quarter, Standard Chartered noted a positive uptick in income for Rates. Specifically, income for the segment was $221 million in the first quarter. This is significantly higher than the $63 million reported in the final quarter of last year and 24.9 percent higher year-on-year.
Income on commodities, however, did not hold up as well in the first quarter, falling by 11.8 percent from $51 million in the first quarter of 2018, to $45 million in Q1 of 2019. This figure is also down 10 percent quarter-on-quarter.
Standard Chartered Achieved Profit of $818 Million in Q1
For the Group as a whole, the company reported a profit of $818 million. This is a solid uptick as Standard Chartered reported a loss of $1.24 billion in the final quarter of last year. However, on a year-on-year comparison, it’s higher by 1.9 percent.
Operating income, however, declined for the first quarter of 2019 by 1.5 percent when measured against the same time period of 2018, coming in at $3.81 billion. Nonetheless, it is still higher than operating income in Q4 of 2018 ($3.6 billion) by 6.1 percent.
Commenting on the first quarter performance, Bill Winters, the Group Chief Executive, said: "...Our first quarter profit supports our belief that we will generate full-year returns of at least 10% by 2021. The resolution of our legacy conduct and control issues means we can now manage our capital position more dynamically. We will maintain our strategic investment programme and start to buy back $1 billion of our shares, reflecting our confidence in our ability to execute the strategy and create long-term shareholder value."
Standard Chartered PLC has released its Interim Management Statement for the first quarter ended March 31, 2019, revealing a solid financial markets performance particularly in foreign exchange (forex) and rates.
As highlighted in today’s statement, the British multinational company saw signs of improvement in market sentiment during the first quarter of 2019. Because of this, income for its financial markets segment was $749 million. This is higher by 3.5 percent year-on-year, or 29.1 percent quarter-on-quarter.
Income from the firm’s Forex sector came in at $299 million. When measuring this against the same period of the previous year, which achieved an income of $250 million, this is up by 19.6 percent. Compared against the previous quarter, Q1 of 2019’s income is up by 28.9 percent.
In the first quarter, Standard Chartered noted a positive uptick in income for Rates. Specifically, income for the segment was $221 million in the first quarter. This is significantly higher than the $63 million reported in the final quarter of last year and 24.9 percent higher year-on-year.
Income on commodities, however, did not hold up as well in the first quarter, falling by 11.8 percent from $51 million in the first quarter of 2018, to $45 million in Q1 of 2019. This figure is also down 10 percent quarter-on-quarter.
Standard Chartered Achieved Profit of $818 Million in Q1
For the Group as a whole, the company reported a profit of $818 million. This is a solid uptick as Standard Chartered reported a loss of $1.24 billion in the final quarter of last year. However, on a year-on-year comparison, it’s higher by 1.9 percent.
Operating income, however, declined for the first quarter of 2019 by 1.5 percent when measured against the same time period of 2018, coming in at $3.81 billion. Nonetheless, it is still higher than operating income in Q4 of 2018 ($3.6 billion) by 6.1 percent.
Commenting on the first quarter performance, Bill Winters, the Group Chief Executive, said: "...Our first quarter profit supports our belief that we will generate full-year returns of at least 10% by 2021. The resolution of our legacy conduct and control issues means we can now manage our capital position more dynamically. We will maintain our strategic investment programme and start to buy back $1 billion of our shares, reflecting our confidence in our ability to execute the strategy and create long-term shareholder value."
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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