StanChart to double down on wealth business, trim retail as it lifts outlook

Quick Summary:

HONG KONG: Standard Chartered upgraded key performance targets as its quarterly profit topped market estimates, and said it will double down on its wealth business while slashing back retail banking in a bid to further boost returns.

StanChart said its third-quarter pretax profit reached US$1.

StanChart's shares rose 3.3 per cent in Hong Kong after the results, as it joined European peers in making robust progress on sustaining profits even as rates fall.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: SingaporeCanadaChinaFranceHong KongIndia

Topics: Investment Retail Hsbc Billion Cent Us$1 Business Wealth Banking Bank Stanchart

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 14:35:41 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 611 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 25 words per sentence (average)

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

Copyright Owner: © Channel News Asia

News ID: 23335833

View Article Analysis

About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 60 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

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: #27

Publisher Details

Frequently Asked Questions