StanChart unveils US$1.5bil share buyback, boosts earnings guidance

FILE PHOTO: The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls

HONG KONG/LONDON: Standard Chartered (StanChart) on Tuesday announced its largest-ever share buyback worth $1.5 billion and lifted its earnings outlook for this year betting on strong economic growth in its core Asian markets and plans to rein in costs.

The bank's Hong Kong-listed shares rose 4% after the results.