Standard Chartered third-quarter profit jumps as bank remains 'cautiously optimistic'

Standard Chartered reported a profit of $ 752 million in the third quarter of this year, stronger than a year ago.

Here are some of the key highlights for the third quarter:

  • Net interest income: $ 2.1 billion versus $ 2 billion a year ago
  • Operating expenses: $ 2.51 billion versus $ 2.48 billion a year ago
  • Common Equity Tier 1 ratio: 14.5 percent versus 13.6 percent

Standard Chartered, which focuses on Asia, Africa and the Middle East, resumed paying out dividends earlier this year.

Commenting on the performance, Bill Winters, group chief executive, said: “Income growth year-on-year was slightly lower in the third quarter impacted by Africa and the Middle East and we remain alert to broader geopolitical uncertainties that have affected sentiment in some of our markets. But growth fundamentals remain solid across our markets and we are cautiously optimistic on global economic growth.”

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