StanChart third-quarter profit surges 27%, lifts income target

Standard Chartered reported a significant surge in its third-quarter pretax profit, with an impressive 27% increase. The bank attributes this growth to robust client activity amidst market volatility, which led to a rise in revenue for its wealth and global markets divisions. Furthermore, the company has raised its full-year income growth target for 2026, projecting growth to exceed 7% from the earlier estimate of 5-7%.

StanChart's primary revenue streams come from Asia and Africa, and for the July-September quarter, pretax profit reached $2.25 billion, surpassing the $1.77 billion recorded in the same period last year and the $1.99 billion average forecast by 16 analysts.