Standard Chartered (StanChart) announced that it will achieve its key profitability target a year earlier than expected, after reporting a solid 3% rise in third-quarter earnings, driven by robust performance in its wealth management, global banking, and markets divisions.
The London-based lender, which derives most of its income from emerging markets across Asia and Africa, reported a pretax profit of $1.77 billion for the quarter ended September — up from $1.72 billion a year earlier and above the $1.52 billion consensus estimate of 14 analysts compiled by the bank.
StanChart now expects full-year income growth to be at the upper end of its 5%–7% guidance range, compared to its earlier forecast at the lower end. This improved outlook means the bank will reach its 13% return on tangible equity (ROTE) target in 2025, a year earlier than previously planned.
Following the results, the bank’s Hong Kong-listed shares rose more than 3%, extending recent gains.
CEO Bill Winters credited the strong performance to a “sharper strategic focus” on serving clients’ cross-border and affluent banking needs, noting double-digit growth in both wealth solutions and global banking.
Wealth management income surged 27% in the quarter, supported by higher inflows and a rise in new accounts amid growing demand for advisory services during market volatility. StanChart plans to add $200 billion in new assets and achieve double-digit income growth in its wealth business over the next five years as part of its long-term strategy to expand higher-fee segments.
Non-interest income climbed 12% year-on-year to $2.4 billion, exceeding analysts’ expectations of $2.3 billion. Meanwhile, capital markets and advisory fees jumped 33%, driven by a rebound in corporate confidence and renewed M&A activity despite global economic uncertainties.
StanChart’s London-listed shares have risen 53% so far in 2025, outperforming rival HSBC, which has gained 37% over the same period.
