Goldman Sachs: Standard Chartered's first quarter profit exceeded expectations by 17%, raising earnings per share forecast.

Jin10 data reported on May 6 that Goldman Sachs released a research report stating that Standard Chartered Group (02888.HK) exceeded expectations with a 17% profit in the first quarter of this year; net interest income (NII) met expectations; pre-tax profit was 5% higher than market expectations; credit impairment was 7% lower than market forecasts; pre-tax profit (PBT) exceeded market forecasts by 10%; return on tangible equity (ROTE) reached 16.4%, exceeding market forecasts by 300 basis points; the common equity tier 1 capital ratio (CET1%) met expectations. Goldman Sachs raised its earnings per share forecast for Standard Chartered for the fiscal year 2025 by 6%; forecasts for the fiscal years 2026 to 2028 were raised by 2%, 2%, and 1% respectively, with a target price for H-shares set at HKD 111 and a neutral rating.