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Standard Chartered upbeat about third-quarter performance

Standard Chartered upbeat about third-quarter performance
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Standard Chartered has announced that it saw strong income from its wholesale division during the third quarter.

The FTSE 100-listed bank announced in a trading update that this area of its operations - which offers services to government agencies, other banks and businesses - performed well in the three months to the end of September.

It added that it has been "building on the record income and profits [made] in the first half of the year", but provided no figures to support the statement.

The firm also issued a note of caution, stating that there has been an increase in activity from competitors.

And group chief executive Peter Sands remarked that there is still instability in the global financial markets.

"It remains too early to call a sustained recovery and we remain cautious on the outlook," he said.

Shares in Standard Chartered were up 2.56 per cent on the stock market following the news, climbing to 1,520p at 15:15 GMT.ADNFCR-1681-ID-19433667-ADNFCR