Standard Chartered Group's quarterly profit exceeds expectations, announces new round of US$1 billion share buyback
Standard Chartered Group's second-quarter profit still exceeded expectations despite China's tightening of cross-border investment regulations, and it announced a new round of US$1 billion in share buyback plans. The London-based bank's second-quarter pretax profit of $2.33 billion was higher than analysts' average forecast of $2.08 billion, mainly due to strong performance in its wealth management and global banking businesses. Standard Chartered Group CEO Wen Tuosi said that the performance in the first half of 2026 set a record, with both financial management and global banking businesses achieving double-digit growth. Standard Chartered shares have rebounded, hitting record highs in recent weeks, with London-listed shares up about 15% this year. The bank just completed its last round of $1.5 billion in share repurchases at the end of June.