The company reported strong third-quarter results, with a 9% increase in profit before tax driven by solid performances in Wealth Solutions and Global Banking, prompting an upgrade in income growth guidance for 2025.
- Operating income reached $5.1 billion, a 5% year-on-year increase, led by record performance in Wealth Solutions and Global Banking.
- The 2025 income growth guidance has been revised upward to the upper end of the 5%-7% range, with a projected return on tangible equity of approximately 13%.
- Operating expenses rose 4%, with $566 million in savings achieved from the Fit for Growth program, ensuring expense management amid growth investments.
- Credit impairments remained manageable at $195 million, reflecting continued stability in the credit portfolio.
- Wealth Solutions saw a notable 27% increase in income, contributing significantly to the total net new money of $42 billion year-to-date.
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