(6 May 2010 – Asia) UK based and Asian focussed, Standard Chartered has delivered a record first quarter profit and income result off the back of both wholesale and retail businesses despite pressure on its margins over the period.Although strangely, the Bank doesn’t report actual numbers, its wholesale banking business covering advisory, trade finance and selected investment banking operations, saw, client income climb by more than 20 percent relative to the first quarter of 2009, contributing over 80 percent of total wholesale income.
Operating costs, driven substantially by increased head count in the wholesale bank, grew ahead of the same period last year.