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

Reuters

HONG KONG/LONDON, ‌Oct 28 (Reuters) - Standard Chartered (StanChart) said on Wednesday ​that ‌third-quarter pretax profit jumped ‌27%, 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% from its earlier ​estimate of in the middle of a ​5-7% 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.

(Reporting by Selena Li in Hong Kong and Lawrence White in London; ‌Editing by Edwina Gibbs)