Standard Chartered In $500M Share Buyback As Profits Jump

By Najiyya Budaly (July 29, 2022, 2:42 PM BST) -- Asia-focused British bank Standard Chartered said on Friday that it has launched $500 million of share buybacks as it aims to return more than $5 billion to shareholders over the next three years.

Standard Chartered PLC, which is listed on the FTSE 100 index and in Hong Kong, said it will carry out a share buyback for up to a maximum of $500 million after reporting a 7% jump in profits for the first half of 2022. Companies typically embark on share buybacks when they report improvements in their balance sheets.

The transaction will "further reduce the number of ordinary shares in...

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