StanChart third-quarter profit surges 27%, lifts income target
FILE PHOTO: The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo
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HONG KONG/LONDON, Oct 28 : Standard Chartered (StanChart) said on Wednesday that third-quarter pretax profit jumped 27 per cent, 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 per cent from its earlier estimate of in the middle of a 5-7 per cent 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.
Source: Reuters
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