Standard Chartered raises annual targets after quarterly profit beats forecasts

what happened

According to Reuters, Standard Chartered (StanChart) reported on Wednesday that pretax earnings for the July to September quarter climbed 27%, helped by heavy client trading in unsettled markets that lifted income at its wealth and global markets units.

The wealth division posted its third straight record quarter, with income up 26%, which the bank attributed to broad gains across products and regions.

Pretax profit reached $2.25 billion, compared with $1.77 billion a year earlier and an average forecast of $1.99 billion from 16 analysts polled by the bank. The company now expects 2026 income growth above 7%, up from its earlier view of the middle of a 5-7% range, and return on tangible equity above 14%, up from more than 12%.

why it matters

For markets, the key point is that the bank beat consensus and improved its outlook, which supports interest in its shares and in international lenders operating across Asia and Africa. Strong client activity during volatile conditions also points to firm demand for trading and investment services.

market impact

Standard Chartered shares: profit above forecasts and higher targets support the bank's stock

• ▲Standard Chartered shares pressure up — profit above expectations and raised targets support investor interest

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