StanChart Singapore’s first-half profit climbs 12.4% to nearly S$1 billion

[SINGAPORE] StanChart Singapore’s net profit climbed 12.4 per cent to S$961 million in the first six months of this year, from S$854 million in the first half of 2024.

Fee and commission income fuelled the improved earnings, rising from S$555 million to S$752 million; so did forex income, which went from S$1 billion to S$1.2 billion.

Globally, the bank reported a pre-tax profit of US$4.4 billion, better than the US$3.8 billion average of 15 analyst forecasts compiled by the bank. It had a 39 per cent increase in profit attributable to parent company shareholders, up from US$2.4 billion in the first half of 2024 to US$3.3 billion.

StanChart also announced a US$1.3 billion share buyback after its overall results after strong performance in the wealth and markets segments helped grow its revenue.

StanChart Singapore holds S$191 billion worth of assets, S$178 billion worth of liabilities and S$12.6 billion worth of equity in total.