Standard Chartered has announced a $1.5bn share buyback, its biggest ever, after second-quarter profits were boosted by its wealth management business.
The UK-based bank on Tuesday reported pre-tax profits of $1.6bn during the quarter, up from $1.5bn a year earlier and above analysts’ estimates of $1.5bn.
Growth was driven partly by the bank’s wealth business, where operating income rose 27 per cent as the bank attracted larger numbers of affluent clients.
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