Standard Chartered Korea's Q1 Net Gains 23% Due to Assets, Fee Income

Standard Chartered Bank Korea posted a 93.8 billion won net profit in the first quarter, up 23.4 percent from last year due to substantial revenue.

The lender's rise in assets and higher fee income induced a marked upturn on revenue.

Also contributing were efforts to trim costs and boost productivity.

Return on equity is at 8.32 percent in the first quarter, up 1.64 percentage points from a year earlier, while the capital adequacy ratio reached 15.41 percent.

Meanwhile, the ratio of nonperforming loans reached 0.40 percent as of the end of March, with its loan delinquency rate coming to 0.22 percent.