Standard Chartered announced $500mn of share buybacks on Friday after pre-tax profits climbed 8 per cent in the first half of the year as the bank benefited from rising interest rates and market volatility.
The UK-based lender said on Friday that statutory profits before tax were $2.77bn in the six months to the end of June.
Performance was boosted by a strong second quarter, with profits surging 12 per cent compared with the same period last year to $1.3bn, exceeding analysts’ expectations of $989mn.
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