Standard Chartered Q3 Profit Edges Up 3% and Raises Full-Year Outlook

Standard Chartered (StanChart) posted a 3% rise in pretax profit for the third quarter to $1.77 billion, beating analyst estimates of around $1.52 billion. 

The increase came despite challenging market conditions, supported by strong growth in wealth management, global banking and advisory fees. Wealth income alone surged 27%, and non-interest income rose 12% to $2.4 billion. 

StanChart now expects full-year income growth to land at the top of its 5-7% guidance range, and it will achieve its 13% return on tangible equity (RoTE) target a year earlier than planned. 

CEO Bill Winters said the turnaround strategy—focusing on affluent clients and cross-border business—is already paying dividends. Meanwhile, the bank’s shares rose over 3% in Hong Kong trading. 

Industry watchers note this performance strengthens StanChart’s position in fast-growing Asia and Africa markets, even as net interest income remains under pressure from global yield fluctuations.