• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

Standard Chartered to repurchase $1.5B in shares after reporting 18% profit surge

by February 21, 2025
by February 21, 2025

Standard Chartered announced a $1.5 billion share buyback on Friday alongside an upgraded earnings target, following an 18% surge in annual profit.

The bank attributed the strong performance to record growth in its wealth management division and robust market activity.

Standard Chartered expects its key markets across Asia, Africa, and the Middle East to outpace global growth, positioning the bank for long-term expansion, CEO Bill Winters said in its earnings statement on Friday.

The London-based lender reported a 2024 pretax profit of $6 billion, marking an 18% increase from $5.1 billion the previous year.

However, the figure came in slightly below the $6.2 billion analyst consensus compiled by the bank.

Following the earnings announcement, StanChart’s Hong Kong-listed shares trimmed earlier losses, trading 0.45% lower on Friday afternoon, recovering from a nearly 2% drop in the morning session.

The broader market, buoyed by optimism in Chinese tech stocks, climbed 3.3%.

Expansion plans and wealth management growth

To accelerate income growth, StanChart plans to invest $1.5 billion over the next five years in wealth management, digital platforms, client services, personnel, and brand marketing.

“We believe our strategic investments and enhanced focus will position us to outperform the market in terms of asset accumulation and income growth over the medium term,” Winters stated.

The bank aims to generate $200 billion in net new money from 2025 to 2029, targeting a double-digit compounded annual growth rate in wealth solutions income between 2024 and 2029.

In 2024, StanChart onboarded 265,000 new wealthy clients, bringing in a total of $44 billion in fresh funds, a 61% increase year-over-year.

Share buyback and dividend payout

The bank announced a final dividend of 28 cents per share and unveiled a $1.5 billion share buyback program, surpassing initial expectations of around $1 billion.

Michael Makdad, a senior market analyst at Morningstar, noted that the larger-than-expected buyback reflects the bank’s confidence in its financial position.

StanChart’s results align with those of rival HSBC, which recently reported a 6.6% rise in annual pretax profit, slightly exceeding forecasts.

HSBC’s wealth and personal banking division also saw a 5.2% profit increase year-over-year.

Both banks are working to expand fee-based revenue streams like wealth management to offset potential declines in net interest income, as global central banks begin cutting interest rates, squeezing lending margins.

The post Standard Chartered to repurchase $1.5B in shares after reporting 18% profit surge appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Bitcoin surges to $98,000, Solana and Ethereum rise while XRP slides
next post
Meta executives eligible for 200% salary bonus under new pay structure

Related Posts

Cristiano Ronaldo joins the billionaire club, net worth...

October 8, 2025

Elon Musk’s xAI secures $20B boost as Nvidia,...

October 8, 2025

SoftBank to acquire ABB’s robotics unit for $5.4B...

October 8, 2025

European stocks open higher: CAC 40 climbs 0.11%,...

October 8, 2025

EU steel tariff surge threatens UK exports and...

October 8, 2025

Why Tata Motors stock remains in the red...

October 8, 2025

Asian markets open: Nikkei hits another record high,...

October 7, 2025

Top reasons why the Topix and Nikkei 225...

October 7, 2025

Goldman Sachs boosts 2026 gold price forecast to...

October 7, 2025

Beijing intensifies oil stockpiling amid global supply and...

October 7, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • Sateliot and Nordic Enable First 5G IoT Link from LEO Satellites

    October 8, 2025
  • Have Mount Laurel Obligations Made New Jersey Housing More Affordable? A Synthetic Control Analysis of Housing Supply and Cost

    October 8, 2025
  • Rent Control Will Make the Housing Crisis Worse

    October 8, 2025
  • Gold’s Acceleration Reveals Vanishing Calm, Coming Change

    October 8, 2025
  • Why the Erosion of Central Bank Independence Matters

    October 8, 2025
  • Cristiano Ronaldo joins the billionaire club, net worth hits $1.4B

    October 8, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 5

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 6

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025
  • 7

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025

Categories

  • Economy (2,816)
  • Editor's Pick (281)
  • Investing (185)
  • Stock (1,920)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

Coinbase says SEC set to drop enforcement...

February 22, 2025

Here’s why Teladoc Health stock price could...

June 24, 2025

Europe markets open: Stocks rise; Maersk Q2...

August 7, 2025