Standard Chartered’s Q3 Profit Surges, Exceeding Analyst Expectations
HONG KONG – Standard Chartered reported a third-quarter profit of US$1.13 billion, or 44.5 US cents per share, a result that surpassed the US$984 million anticipated by analysts, the London-based bank announced Thursday in a filing to the hong Kong stock exchange. The strong performance was driven by growth in trade loans and wealth management, alongside positive momentum in global markets.
The bank’s success underscores its strategic focus on Asia, where it generates the majority of its business, and signals a strengthening financial position. Standard Chartered now anticipates achieving an underlying return on tangible equity of around 13 percent in 2025 – a year ahead of its previous target. CEO Bill Winters attributed the gains to a “sharper strategic focus on servicing our clients’ cross-border and affluent banking needs,” highlighting “strong double-digit growth in wealth solutions and global banking” and “good momentum in our global markets flow business.”
Pre-tax profit increased by 3 percent to US$1.77 billion, also exceeding analyst consensus estimates. However, the bank’s earnings growth was partially tempered by a rise in bad debt, with credit impairments totaling US$195 million in the third quarter – a 10 percent increase year-over-year.
A US$25 million provision was specifically allocated for the hong Kong commercial real estate sector, reflecting “increased pressure on liquidity, interest serviceability and repayment capacity.” Standard Chartered currently maintains a US$60 million overlay for potential risks related to its Hong Kong commercial real estate clients.
