STANDARD Chartered has continued to wrestle with rising inflation, which is expected to hit double digits by the end of this year.

The British bank's income inched some nine per cent higher to $4.3bn in the first quarter of this year, while return on tangible equity jumped a little over 11 per cent.

Chief executive Bill Winters said the performance was "strong despite the volatile macro environment".

The lender earlier this week announced plans to push into the metaverse - snapping up a plot of land in decentralised gaming world The Sandbox for an undisclosed sum - as money continues to poor into the digital space.

(c) 2022 City A.M., source Newspaper