JPMorgan: Expects HSBC Holdings (00005.HK) and Standard Chartered (02888.HK) to see Q3 adjusted pre-tax profit rise 11% and 7% year-on-year, respectively; prefers Standard Chartered

Zhitong Finance APP has learned that JPMorgan issued a research report stating that it expects HSBC Holdings (00005.HK) and Standard Chartered Group (02888) to report third-quarter revenue growth of 7% and 8% year-on-year, respectively, and adjusted pre-tax profit growth of 11% and 7% year-on-year, respectively. The bank believes that both banks' revenue growth momentum continues, and it prefers Standard Chartered, mainly due to Standard Chartered's stronger ROTE and EPS growth over the forecast period, lower valuation requirements, and lower downside risk from buybacks.