**Diego De Giorgi, Group CFO & Group Executive Director**
Good morning, and good afternoon, everyone. Thank you for joining us today.
First, I will take you through our third quarter results. After this, I will be joined by Bill, who is dialing in from our Dubai office today, and we will be happy to take your questions.
In my remarks, I will be comparing the third quarter underlying performance year-on-year at constant currency, unless otherwise stated.
It has been another strong quarter. We delivered 9% growth in profit before tax on the back of a 5% increase in income. Our growth engines have continued to deliver consistently with a record quarterly performance in Wealth Solutions and Global Banking.
As a result, we are upgrading our 2025 income growth guidance to be towards the upper end of the 5% to 7% range at constant currency, excluding notable items. We had previously guided this to be at the lower end of the range.
More importantly, we now expect to deliver a return on tangible equity of around 13% in 2025. This exceeds our previous guidance of approaching 13% in 2026.
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