The Zhitong Finance App learned that after excluding special projects, Standard Chartered Group (02888) won the market forecast 12% in pre-tax profit for the second quarter of this year, mainly driven by a 43% year-on-year increase in the wealth solutions business, which also contributed to transaction services and global banking. Non-net interest income was 7% higher than expected, net interest income was 1% higher than expected, and overall revenue was 4% higher than market expectations. Credit impairment expenses during the period were US$150 million, 37% lower than market expectations. UBS maintains Standard Chartered's “neutral” rating, and the target price for H shares is HK$228.5.

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