LONDON — The British bank Standard Chartered, which generates most of its earnings in Asia, said on Tuesday that its profit had declined 22 percent in the first quarter. The bank cited an exit from some business lines, an increase in impairments for bad loans and “challenging” trading conditions, particularly in currency-hedging products.

For the three months ended March 31, Standard Chartered, based in London, said pretax profit fell to $1.47 billion, from $1.88 billion in the first quarter of 2014.

Standard Chartered reported its results just days after HSBC, a competitor that also generates much of its revenue income in Asia, said it was formally reviewing whether to move its headquarters from London as it faces a shifting regulatory landscape that includes a bank tax that has hit lenders based in Britain particularly hard.

Andrew Halford, the bank’s group finance director, said that Standard Chartered continues to review its headquarters location but has made “no change” in its position. He said the last formal review by the board was two or three years ago.