Standard Chartered PLC

Latest Results (27.12.2025):

Standard Chartered PLC — Q3 2025: The Group reported underlying operating income of $5.15bn for the third quarter ended 30 September 2025 (up 5% YoY on a constant currency basis) producing an underlying profit before tax of $1.99bn and underlying EPS of 52.3 cents. Results were driven by strong Wealth Solutions and Global Banking performance, offset in part by a modest drop in net interest income and ongoing investment spend; underlying RoTE rose to 13.4% in Q3 2025.

Revenue mix

Operating income $5.15bn (+5% underlying). Net interest income was $2.74bn (down 1% YoY) while non‑NII rose 12% to $2.41bn, led by Wealth Solutions and Global Banking.

Business drivers

Record Wealth Solutions quarter: income +27% (investment products +35%). Global Banking income +23% (higher origination, distribution and capital markets activity). Global Markets flow income +12% (overall Global Markets +1%).

Costs and efficiency

Underlying operating expenses $2.95bn (+4% YoY) reflecting targeted investments and some efficiency savings; cost-to-income ratio improved slightly to 57.4% (underlying).

Credit and asset quality

Credit impairment charge $195m (annualised loan‑loss rate ~24bps). WRB charge $107m (down $73m YoY due to unsecured portfolio optimisation). Management overlays include Hong Kong CRE and China CRE provisions.

Profitability & capital

Underlying profit before tax ~$2.0bn and underlying RoTE 13.4% (up 260bps YoY). CET1 ratio 14.2% (down 18bps q/q but up excluding buyback impact). Tangible NAV per share $16.84 (1,684 cents).

Balance sheet & liquidity

Balance sheet remains well capitalised and liquid: loans and advances to customers broadly stable (underlying +1% q/q), customer deposits up ~2% q/q, liquidity coverage ratio 151% and advances-to-deposits ~50.7%.

Restructuring, buybacks & shareholder returns

Restructuring and other charges $219m in Q3 (including $138m Fit for Growth). The Group is executing a $1.3bn buyback (~$413m spent by 30 Sep). Plan to return at least $8bn to shareholders cumulatively (2024–2026) and to lift dividend per share over time.

Guidance

Upgraded guidance: 2025 underlying RoTE now expected around 13% and 2025 income growth expected toward the upper end of the 5–7% CAGR (2023–2026, constant currency, excluding notable items). Other guidance unchanged (expense target < $12.3bn in 2026 at ccy, low single‑digit loans & RWA growth, CET1 13–14% operating range).