StanChart third-quarter profit surges 27%, lifts income target
- It also lifted its full-year income growth target for 2026 to above 7% from its earlier estimate of in the middle of a 5-7% range
Standard Chartered reported a 27% jump in Q3 pretax profit, driven by strong client activity and volatile markets, leading to increased revenue and an upgraded 2026 income growth target.
- Standard Chartered's Q3 pretax profit surge.
- Factors contributing to increased revenue.
- Upgraded full-year income growth target.
HONG KONG/LONDON: Standard Chartered said on Wednesday that third-quarter pretax profit jumped 27%, as strong client activity amid volatile markets increased revenue for its wealth and global markets divisions.
It also lifted its full-year income growth target for 2026 to above 7% from its earlier estimate of in the middle of a 5-7% range. StanChart, which earns most of its revenue in Asia and Africa, said pretax profit for the July-September quarter reached $2.25 billion.
That compares with $1.77 billion in the same period a year earlier and the $1.99 billion average of 16 analyst estimates compiled by the bank.