By Jonathan Davies
Standard Chartered has reported a 22% drop in profits for the first quarter of 2015.
The British-based, Asia-focused bank posted pre-tax profits of $.1.48bn (£1bn) in the first three months of the year.
Standard Chartered said it has been battling with rising costs, and expects its bank levy to rise 48% to $540m in 2015.
The Chancellor George Obsorne announced in March's Budget that the UK bank levy would increase to 0.21% from 0.156%.
Given the bank's focus on the Asian market, the bank's rising costs had prompted some to suggest that Standard Chartered may follow HSBC is considering leaving the UK.
But Andy Halford, Standard Chartered's finance director said: "At this point in time there is no change in our position on domicile."
But he did admit that the location of the bank's base is kept under continual review.
Mr Halford added: "It's not a simple thing to do. Most businesses stay domiciled where they are and there's a reason for that."
"Trading conditions remain challenging and the actions we are taking to de-risk, cut costs and build capital are having an impact," said Standard Chartered's chief executive Peter Sands.
Standard Chartered is planning to cut-back its operation in loss-making South Korea, and plans to make similar cuts in China and Hong Kong.