StanChart hopes reg spending has peaked as costs drop 5%

Bank reports a $63 million quarter-on-quarter drop

Standard Chartered expressed hopes that its regulatory costs may have peaked after reporting both a quarter-on-quarter and year-on-year decrease in the compliance-related expenses.

Regulatory costs fell $63 million in the first three months of 2018 compared with the previous quarter, and $6 million compared with the first quarter of 2017.

Expenses for 2017 in total were $1.3 billion, 15% higher than in 2016, as the bank implemented a swathe of regulatory programmes. These included projects to

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