HONG KONG/LONDON: Standard Chartered (StanChart) on Wednesday hiked its income and profitability targets after third-quarter profit handily beat estimates with robust performances from its wealth and global markets divisions.

It lifted its full-year income growth target for 2026 to above seven per cent from its earlier estimate in the middle of a five to seven per cent range. And it also boosted its return on tangible equity target, a key performance gauge, to above 14 per cent from an earlier forecast of exceeding 12 per cent.

The bank's Hong Kong-listed shares extended gains to be up 5.4 per cent after the results.

StanChart, which earns most of its revenue in Asia and Africa, said pretax profit for the July-September quarter surged 27 per cent to US$2.25 billion, ahead of a consensus of US$1.99 billion drawn from analyst estimates compiled by the bank.