Q1 2024 Standard Chartered PLC Earnings Call Transcript
Good morning and good afternoon, everyone, and thank you for joining our first quarter earnings call. I'll take you briefly through the numbers, and then Bill, and I will be happy to take questions. In my remarks, I will be comparing year-on-year on an underlying basis and speaking to constant currency unless stated otherwise. And as a reminder, the results of our segments and products are now presented to reflect the RNS we issued on the 2nd of April.
We had a strong start to 2024. First quarter income was up 20%. This growth rate was flattered by 2 notable items totaling $234 million. But even excluding this, income was up 14%. Adjusted net interest income increased 5%, and the performance of our 2 engines of non-NII was strong with Wealth Solutions up 23% and Markets up 17%. We saw good momentum in Banking with income up by a similar amount at 17%. With mid-single-digit expense growth and modest impairments, pretax profit was up 27%. We remain highly liquid. Our CET1 ratio remains robust and the latest $1
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