Core Viewpoint - UBS report indicates that Standard Chartered Group (02888) is expected to outperform market consensus in adjusted pre-tax profit for Q3 2025 by 15% [1] Financial Performance - Net interest income is 2% above expectations, while core non-interest income exceeds by 5%, leading to a total revenue growth of 4% [1] - Cost control is better than expected by 1%, resulting in pre-provision profit being 10% higher than anticipated [1] - Impairment losses are 23% lower than market consensus, which includes moderate provisions for Hong Kong commercial real estate [1] Capital Position - Common Equity Tier 1 (CET1) capital ratio stands at 14.2%, exceeding market expectations by 10 basis points, although it decreased by 20 basis points quarter-on-quarter due to a 50 basis point drag from the announced buyback plan in Q2 [1] Business Drivers - Overall revenue outperformance is primarily driven by transaction services, global banking, and wealth management, although some growth was offset by a slowdown in global markets business [1] Rating - UBS maintains a "Buy" rating for Standard Chartered Group [1]
瑞银：渣打集团上季业绩强劲 受交易服务、财富管理及全球银行业务驱动