StanChart sees record Q1 profit

Standard Chartered said on Tuesday it was in “very good shape” as the emerging markets bank reported record levels of income and profit in the first quarter. In a trading update, the bank singled out a strong performance from its wholesale banking arm as the main reason for its buoyant start to 2009. The update, which exceeded some analysts’ expectations, mirrors recent and unexpectedly positive Q1 results from banks elsewhere.