Standard Chartered’s third-quarter net profit rose 46 per cent as strong growth in cross-border trade loans and wealth management buffered one of Hong Kong’s three note-issuing banks from provisions linked to geopolitical tensions.
Net profit increased to US$1.5 billion, or 68.9 US cents per share, in the quarter that ended on September 30, compared with US$1.03 billion a year earlier, the London-based bank said in a filing to the Hong Kong stock exchange on Wednesday.
The result beat analysts’ forecast of US$1.2 billion.