Standard Chartered boosted by income and profit growth

The price of shares in FTSE 100 financial services firm Standard Chartered (LON:STAN) has risen by 2.79% to 714.40p (as of 12:10 GMT) as it reported a 4% increase in statutory pre-tax profits for the third quarter. Income was up by 7%, driven by strong performance in Europe and the Americas as well as the Corporate & Institutional Banking arm.

CEO Bill Winters commented: “Our strategy of the last few years has progressively created a stronger and more resilient business as evidenced by a 16% increase in underlying profits in the third quarter. The continuing execution of that strategy remains our priority, enabling us to face the more challenging external environment confidently, determined to continuously enhance our service to our clients, our performance-oriented culture and our profitability“.