Standard Chartered has seen its operating income increase by 28% in its wealth solutions division, rising to $890m in the third quarter.

The global bank also recorded a 36 per cent increase in its investment products income, totalling $691m in the three months to 30 September.

Standard Chartered said that this increase was driven by momentum in affluent new-to-bank onboarding, with 67,000 clients onboarded during Q3.

The group’s overall operating income increased by five per cent to $5.1bn, as a result of this growth in wealth solutions and global banking divisions.

Although the bank's net interest income dropped by one per cent in this period, its non NII increased by 12%.

Looking ahead, Standard Chartered has upgraded its guidance for return on tangible equity (RoTE), which is now expected to grow by around 13 per cent.

Group chief financial officer at Standard Chartered, Diego De Giorgo, said: "Our growth engines have continued to deliver consistent performance, with a record quarter in both wealth solutions and global banking.

"Our consistent delivery gives us confidence to upgrade our 2025 income growth guidance to be towards the upper end of the five to seven per cent range. We now expect to deliver a RoTE of around 13 per cent in 2025. This exceeds our previous guidance and accelerates our delivery by a year."

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