(Corrects paragraphs 1 and 4 to show the bank kept its earnings target unchanged and did not increase it)
HONG KONG (Reuters) -Standard Chartered announced on Friday a $1.5 billion share buyback and an earnings target that it retained after reporting its annual profit rose 18% on the back of record growth in its wealth business and strong market 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.
It said the return on tangible equity (RoTE) was on track to approach the 13% target in 2026.
