StockMarketWire.com - Standard Chartered posted a 4% rise in third-quarter profit driven by an especially strong performance at its corporate and private banking divisions.

Pre-tax profit for the three months through September rose to $1.11bn, up from $1.06bn on-year.

Income rose 7% to $4.0bn and underlying pre-tax profit rose 16% to $1.2bn.

Standard Chartered said it continued to focus on executing its strategy with the objective of delivering a 10% return on tangible equity by 2021.

However, it added that 'there are growing headwinds from the combination of continuing geopolitical tensions and expectations of declining near-term global growth and interest rates'.

Chief executive Bill Winters said the continuing execution of the company's strategy remained its priority and would allow it to face a more challenging external environment confidently.

Story provided by StockMarketWire.com