Reported 3 months ago
Standard Chartered (StanChart) has announced a record $1.5 billion share buyback and raised its income outlook for 2024, predicting over 7% growth in operating income due to strong economic performance in Asia. CEO Bill Winters emphasized the need to improve the bank's stock price, which has grown just 18% this year. Despite challenges in China's real estate sector, StanChart plans to save $1.5 billion through a cost-cutting initiative while seeing a significant rise in its wealth management business.
Source: YAHOO