Standard Chartered Raises 2026 Targets After 27% Profit Jump

Standard Chartered reported a 27% increase in third-quarter pretax profit, reaching $2.25 billion for the July-September period. The result exceeded analyst estimates of $1.99 billion, fueled by strong client activity in volatile markets and a third consecutive record quarter for the bank's wealth division, which saw income rise 26%.

Following these results, the bank raised its full-year income growth target for 2026 to above 7%, up from a previous estimate of 5-7%. It also increased its return on tangible equity target to above 14% from the previous forecast of 12%.

As part of an accelerated wealth expansion plan, the bank now targets net new money inflows of $200 billion between 2025 and 2028, moving the original deadline forward from 2029. Shares listed in Hong Kong rose 5.4% following the announcement.