On November 1st, Global Longhui | JPMorgan issued a report stating that Standard Chartered Group's third-quarter revenue, costs, and asset quality exceeded expectations, with the upward revision of guidance as the biggest highlight. Its third-quarter tax excluding pre-tax profits exceeded market expectations by 16%, driven by revenue higher than expected by 4%, as well as operating costs and impairments lower than expected by 2% and 25% respectively. StanChart also raised its revenue growth guidance for the year from over 7% to approaching 10%, slightly below the market expectation of around 8.5%. However, from a less optimistic perspective, the tier 1 capital ratio of common equity for the quarter was 14.2%, lower than the market expectation of 14.3%, based on market risk of risk-weighted assets. StanChart raised its shareholder return guidance for 2024 to 2026, increasing the share repurchase from 5 billion US dollars to 8 billion US dollars, while the market expectation was 8.4 billion US dollars. The group indicated that the current interest rate environment and outlook make next year's net interest income growth more challenging, with the market expecting a decrease of 1%. The bank sees downward risks in net interest income, as the bullish hedges are already mainly reflected in 2024. The bank maintains a 'shareholding' rating for StanChart, but believes that HSBC Holdings has relatively clearer earnings visibility for next year.