Standard Chartered Singapore has reported a 13.7% increase in its net profit for the first half of 2025, according to a recent statement. The bank’s strong performance was driven by a combination of factors, including growth in its core business segments, improved operating efficiency, and a favorable economic environment.
The bank’s net profit for the first six months of 2025 stood at $742 million, up from $652 million in the same period last year. The increase in net profit was largely driven by a 10% growth in operating income, which rose to $2.1 billion. The bank’s operating income was boosted by strong growth in its corporate and commercial banking business, as well as its wealth management segment.
Standard Chartered Singapore’s corporate and commercial banking business saw a significant increase in income, driven by higher lending and transaction banking activity. The bank’s wealth management segment also performed well, with assets under management growing by 15% year-on-year. The bank’s consumer banking business also saw a modest increase in income, driven by growth in credit card and personal loan balances.
The bank’s strong performance was also driven by its efforts to improve operating efficiency. Standard Chartered Singapore has been implementing a number of initiatives aimed at reducing costs and improving productivity, including the use of digital technology to streamline processes and improve customer service. The bank’s cost-to-income ratio improved to 43.6% in the first half of 2025, down from 45.1% in the same period last year.
The bank’s CEO, Patrick Lee, commented that the bank’s strong performance in the first half of 2025 was a testament to the bank’s strategy and the hard work of its employees. He noted that the bank remains committed to delivering sustainable growth and improving its operating efficiency, and is well-positioned to capitalize on opportunities in the Singapore market.
Overall, Standard Chartered Singapore’s strong performance in the first half of 2025 is a positive sign for the bank and its stakeholders. The bank’s ability to deliver growth in its core business segments, combined with its efforts to improve operating efficiency, position it well for long-term success. As the Singapore economy continues to grow and evolve, Standard Chartered Singapore is likely to remain a major player in the market, with a strong brand and a commitment to delivering excellent customer service.