After tax, profit in Q3 was $752 million, up by 35 per cent and beating consensus forecasts, according to Reuters.

Around early-afternoon trading in London yesterday, the bank's share price was up by about 4.5 per cent on the day, with the markets appearing to be cheered by the above-forecast result.

As far as its wealth business was concerned, Standard Chartered said income rose by 8 per cent since the start of 2018, but figures for the third quarter period of 2018 fell by 5 per cent.

"Private banking income was 8 per cent higher reflecting good momentum in wealth management and specifically managed investments, with net new money increasing $800 million year-to-date," the bank said in its statement.

The bank said that the broad macroeconomic environment is favourable for its business, but added that fears about rising trade protectionism have hurt emerging markets. While a UK-listed bank, Standard Chartered earns the bulk of its revenues in the emerging market regions of Asia, Africa and the Indian sub-continent.

Standard Chartered said its Common Equity Tier 1 ratio - a standard way that banks measure their capital strength - was 14.5 per cent, a rise of 0.28 per cent in the reporting period, as profits rose and risk-weighted assets declined.

Observing how results broke down across geography, the bank said: "The 11 per cent increase in income from Greater China and North Asia was driven by growth in all markets and from all four client segments. Hong Kong grew at 11 per cent, benefiting from momentum across all segments and in cash management, wealth management and deposits. This was  partly offset by the impact of margin compression on income in mortgages, particularly in the third quarter."

"Income from ASEAN and South Asia improved by 4 per cent or 6 per cent, excluding Treasury gains of around $50 million made in 2017. Good growth in Singapore, notably in transaction banking and retail products, offset lower income in India," it said.

The bank added that income from Africa and the Middle East fell by 5 per cent and 3 per cent on a constant currency basis with better performances in transaction banking and wealth management, which was more than offset by a reduction in income from corporate finance and financial markets.

Macroeconomic and geopolitical headwinds hit performance, particularly in the United Arab Emirates, it added.