Standard Chartered Bank records 29% profit increase before tax
Standard Chartered Bank has announced an increase of it’s profit before tax of 29% as compared to the same period last year
The result which is for the third quarter of 2026, saw the profit increasing to $2.3 billion, with operating income rising to 14%, which amounted to $5.8 billion
According to the bank’s financial report , it’s Wealth Solutions delivered a third consecutive record quarter increase and the Group raised its full-year income and returns guidance.
The report indicates that return on tangible equity moved to 15.7%, up from 10.5% a year earlier, while Wealth
Solutions income rose to 26%, with a record $20 billion in affluent net new money
The bank’s Global Markets income also moved up to 21% with 2016 income growth now expected to exceed the previous 5–7% range, with return on tangible equity of around 14%.
On the banking sector performance, it also recorded strong performance in the quarter and a second guidance upgrade from an international bank with a presence across Africa, Asia and the Middle East,
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The bank also announced that its Wealth and affluent banking recorded increase in client inflows and that the growth in investment products point to rising demand for the bank’s wealth management which serves the local and international banking needs of clients across the wealth continuum from Personal to Priority and Private Banking, as well as Small and Medium Enterprises.
