British lending major Standard Chartered Plc reported higher profit and operating income in the third quarter, mainly due to growth in non-net interest income. The company upgraded its fiscal 2025 income growth view, now expecting towards the upper end of the guidance range. Standard Chartered shares in Hong Kong were up around 0.6 percent to trade at HK$153.900.

The firm expects to deliver an underlying return on tangible equity of around 13 percent in 2025, hitting their target a year earlier than planned. In the third quarter, profit before taxation grew 3 percent to $1.77 billion. Profit attributable to ordinary shareholders was $1.03 billion, up 10 percent from last year. Basic earnings per share grew 7.7 percent to 44.5 US cents.

Operating income for the quarter increased 3 percent to $5.11 billion, with underlying operating income at $5.15 billion, up 5 percent from last year. Underlying net interest income dropped 1 percent year-over-year to $2.74 billion, while underlying non-net interest income rose 13 percent to $2.41 billion. The firm continues to project operating income to increase 5 percent to 7 percent CAGR in 2023-2026.

Read more at Nasdaq: Standard Chartered Q3 Results Rise; Upgrades FY25 Income Growth View