StanChart third-quarter profit more than doubles on strong wealth growth, raises guidance

Quick Summary:

HONG KONG/LONDON: Standard Chartered's quarterly profit more than doubled from a year ago, topping analyst estimates, as it recovered from China-related impairments while wealth and markets businesses bolstered the emerging-market focused lender's revenue.

The bank is "doubling investment" in its wealth management business, Group CEO Bill Winters said in a statement.

Winters said in the statement the bank will continue to "reshape" its mass retail business to focus on future affluent and international clients.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: MalaysiaCanadaChinaFranceHong KongIndia

Topics: Profit Finance /Business/Business News Investment Banking Standard Chartered

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 13:28:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 575 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23335356

View Article Analysis

About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 34 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 5 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

Frequently Asked Questions