Standard Chartered Q3 Profit Rises - Quick Facts

(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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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