Standard Chartered PLC (STAN) Q3 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:02.274 Good morning and good afternoon, everyone. 00:00:02.274 -- 00:00:04.857 Thank you for joining us today. First, 00:00:04.857 -- 00:00:07.480 I will take you through our third quarter results. 00:00:07.480 -- 00:00:11.506 After this, I will be joined by Bill, who is dialing in from our Dubai office today, 00:00:11.506 -- 00:00:14.329 and we will be happy to take your questions. 00:00:14.329 -- 00:00:18.394 In my remarks, I will be comparing the third quarter underlying performance year on year 00:00:18.394 -- 00:00:22.640 at constant currency, unless otherwise stated. 00:00:22.640 -- 00:00:27.717 It has been another strong quarter. we delivered 9% growth in profit before 00:00:27.717 -- 00:00:31.261 tax on the back of a 5% increase in income. 00:00:31.261 -- 00:00:36.267 Our growth engines have continued to deliver consistently, with a record quarterly performance 00:00:36.267 -- 00:00:41.573 in wealth solutions and global banking. As a result, we are upgrading 00:00:41.573 -- 00:00:46.658 our 2025 income growth guidance to be towards the upper end of the 00:00:46.658 -- 00:00:51.382 5-7% range at constant currency, excluding notable items. 00:00:51.382 -- 00:00:56.268 We had previously guided this to be at the lower end of the range. 00:00:56.268 -- 00:01:00.793 And more importantly, we now expect to deliver a return on tangible equity of around 00:01:00.793 -- 00:01:03.274 13% in 2025. 00:01:03.777 -- 00:01:09.284 This exceeds our previous guidance of approaching 13% in 2026 00:01:09.284 -- 00:01:14.530 and accelerates our delivery by a year. As we set out in the press release this morning, 00:01:14.530 -- 00:01:19.597 performance has been broad-based and is a testament to our sharper strategic focus 00:01:19.597 -- 00:01:24.123 on...