Standard Chartered’s profits rose 3 per cent in the third quarter, buoyed by $13bn of new money from affluent clients as the bank focuses on wealth management for revenue.
The Asia-focused, UK-headquartered bank reported pre-tax profits of $1.8bn in its quarter to the end of September, higher than analyst expectations of $1.5bn. It upgraded guidance for 2025 operating income growth to the top of its 5 to 7 per cent range, from the bottom end previously.
Net interest income fell 5 per cent on a year earlier to $1.4bn, while operating income from wealth management and global banking rose 27 per cent and 23 per cent, respectively.
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