Corrects paragraphs 1 and 4 to show the bank kept its earnings target unchanged and did not increase it
HONG KONG, Feb 21 (Reuters) - Standard Chartered STAN.L 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 markets 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 return on tangible equity (RoTE) was on track to approach the 13% target in 2026.
(Reporting by Selena Li; Editing by Muralikumar Anantharaman)
((Selena.Li@thomsonreuters.com; +852 39525868;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.