Standard Chartered hits record profit

Standard Chartered achieved a record quarterly performance, fueled by a surge in its wealth management and global markets businesses.

The bank's net profit rose significantly, even as it navigated the economic turbulence caused by the conflict in the Middle East.

Officials disclosed that the bank has set aside nearly $200 million to cover potential losses linked to the Iran war, highlighting the ongoing risks to international financial institutions.

Despite these provisions, the bank's strong capital position and growth in key Asian markets have bolstered investor confidence.