StanChart `Claws' Toward Earnings Goal Despite Cost Concerns
- Bank posts highest quarterly revenue under CEO Bill Winters
- CFO cautions costs may rise on FX moves, reinvestment programs
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Standard Chartered Plc’s Bill Winters is closing in on his return target after three years spent struggling to transform the emerging markets lender, but the bank hasn’t shaken off concerns about costs and growth.
The lender posted the highest quarterly revenue of the chief executive’s tenure and warned expenses may escalate this year. Nevertheless, a 7 percent increase in income suggests Winters, 56, may finally have some momentum behind his turnaround, building on a reinstatement of the dividend and a return to annual profit after two years of losses.