Standard Chartered Announces $1.5 Billion Shareholder Buyback Following Strong 2024 Earnings

The bank reported an 18% rise in annual profit, driven by robust growth in wealth management and trading businesses.

Standard Chartered will return $1.5 billion to shareholders through a buyback program, increasing total returns since 2023 to $4.9 billion.
The bank's 2024 annual profit rose 18% to $6 billion, slightly below analyst estimates of $6.2 billion.
Wealth management and global markets divisions saw significant growth, with operating income in these areas rising 36% and 45%, respectively, in Q4.
The bank onboarded 265,000 new clients in 2024 and attracted $44 billion in net new money, largely from international flows.
CEO Bill Winters highlighted ongoing cost-saving initiatives under the 'Fit for Growth' program, which aims to enhance efficiency through $1.5 billion in investments.