Standard Chartered’s Q3 Profitโค Surges, Exceeding Analyst Expectations
HONG โKONG – Standard Chartered โreported a third-quarter profit of US$1.13 billion, โor 44.5 US cents per share, aโ result thatโข surpassed the US$984 โขmillion anticipated by โanalysts, the London-based bank announced Thursday โin a filing to โthe hong Kong stock exchange. The โขstrong performance was drivenโฃ byโข growthโฃ in trade โขloans and wealth management, alongsideโ positive momentum in global โmarkets.
Theโฃ bank’s success underscores its โคstrategic focus onโค Asia, where it generates the majority of its business, and signalsโข a strengthening financial position. Standard Chartered now โanticipates achieving an underlying return on tangible equity of around โ13 percent in 2025โ – a year ahead of its โprevious target. CEO Bill Winters attributed the gains toโ a “sharper strategic focus on servicing our clients’ cross-border and affluent banking needs,” highlighting “strong double-digit growth in wealth โขsolutions andโ global banking” and “good momentumโฃ in our โglobal markets flowโ business.”
Pre-tax profit increased by 3 percent to US$1.77 billion, also exceeding analyst consensus estimates. โHowever, the bank’s earnings growth was partially tempered by a rise in bad debt, with credit impairments totaling โUS$195 million in theโค third quarter – a 10 percent increase year-over-year. โ
A US$25 โmillion provision was specifically allocatedโ for the hong Kong commercial real estate sector, reflecting “increased pressure on liquidity, interest serviceability and repaymentโค capacity.” Standard Chartered currently โคmaintains a US$60 million overlay for potential risks related to its Hong Kong commercial real โคestate clients.
