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StanChart sets $1.5 billion buyback after 18% rise in annual profit

Published by Global Banking & Finance Review

Posted on February 21, 2025

1 min read

· Last updated: February 27, 2026

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Standard Chartered announces $1.5 billion buyback following 18% profit rise - Global Banking & Finance Review
This image illustrates Standard Chartered's announcement of a $1.5 billion share buyback after an 18% rise in annual profit, highlighting the bank's strong performance and growth in the wealth business.
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HONG KONG (Reuters) - Standard Chartered announced on Friday a $1.5 billion share buyback and a higher earnings target, after reporting its annual profit rose 18% on the back of record growth in its

Standard Chartered Announces $1.5 Billion Buyback Following 18% Profit Surge

HONG KONG (Reuters) - Standard Chartered announced on Friday a $1.5 billion share buyback and a higher earnings target, after reporting its annual profit rose 18% on the back of record growth in its wealth business and strong markets performance.

The London-based bank reported pretax profit for 2024 of $6 billion, up from $5.1 billion the year before and slightly below the $6.2 billion average of analysts' forecasts as compiled by the bank.

StanChart also announced a final interim dividend of 28 cents per share.

The bank upgraded its 2026 return on tangible equity (RoTE) target to "approaching 13%" from the 12% estimated earlier.

(Reporting by Selena Li; Editing by Muralikumar Anantharaman)

Key Takeaways

  • Standard Chartered announces a $1.5 billion share buyback.
  • The bank's annual profit rose by 18% in 2024.
  • Pretax profit reached $6 billion, slightly below forecasts.
  • A final interim dividend of 28 cents per share was declared.
  • RoTE target for 2026 upgraded to approaching 13%.

Frequently Asked Questions

What was Standard Chartered's annual profit for 2024?
Standard Chartered reported a pretax profit of $6 billion for 2024, up from $5.1 billion the previous year.
What is the amount of the share buyback announced by Standard Chartered?
The bank announced a share buyback of $1.5 billion.
What is the final interim dividend declared by Standard Chartered?
Standard Chartered declared a final interim dividend of 28 cents per share.
What is the new return on tangible equity target for 2026?
The bank upgraded its 2026 return on tangible equity target to 'approaching 13%' from the previous estimate of 12%.

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