Standard Chartered Posts Solid Financial Metrics for Q3 2021

Standard Chartered Plc (StanChart) released its financial results for the third quarter of 2021 today, disclosing a robust financial performance.

Across all segments, its income increased by YoY 7% to $3.8 billion. Underlying profit before tax was up 44% to $1.1 billion. Statutory profit before tax surged 129% to $1.0 billion. Earnings per share reached 23.1 cents, up 70%.

Specifically, the bank’s Financial Markets income enjoyed an increase of 11% on a year basis. Macro Trading rose 4% with higher Foreign Exchange (FX) and Commodities income partly offset by lower Rates income. Credit Markets income increased 13%.

Besides, Structured Finance boomed by 54%, driven by trading and other gains within Aviation Finance, while negative movements in XVA resulted in Financing & Security Services income down 21%.

Across regions, Asia profits grew 13% with a 5% increase in income. There was double-digit income growth in India, China, South Korea and Singapore while Hong Kong income was flat. Europe & Americas income increased 22%, with strong double-digit growth in Financial Markets, which along with $23 million lower impairment, resulted in profits increasing more than four-fold.