(RTTNews) - Standard Chartered Plc (SCBFF.PK, STAC.L, STAN.L) reported Wednesday that its third-quarter profit attributable to parent company shareholders increased to $761 million from last year's $741 million. Earnings per share were 22.5 cents, up from 21.4 cents a year ago.
Profit before tax up grew 4 percent from last year to $1.11 billion.
Underlying profit before tax was $1.24 billion, compared to $1.07 billion a year earlier. Underlying earnings per share were 26.6 cents, compared to 22.2 cents last year.
Operating income grew to $3.96 billion from $3.75 billion in the prior year. Income increased 8 percent on a constant currency basis. Underlying operating income was $3.98 billion, up from $3.72 billion in the previous year.
Net interest margin remained flat at 1.56 percent.
Looking ahead, the company said it continues to focus on executing strategy with the objective of delivering a 10 percent return on tangible equity by 2021.
Costs in the second half will be slightly higher than in the first half due to investment phasing; and fourth quarter will exceed third quarter.
Costs in fiscal 2019 excluding the UK bank levy are expected to grow below the rate of inflation.
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