Standard Chartered (HKG:2888) profit attributable to equity holders surged 78% to $1.73 billion in the second quarter from $974 million a year earlier, according to a Thursday filing with the Hong Kong bourse.

Earnings per ordinary share rose to $0.705 from $0.358 in the prior-year period, ahead of the Visible Alpha consensus estimate of $0.57.

Underlying net interest income for the quarter was broadly flat at $2.70 billion, compared with a $2.76 billion estimate by the Visible Alpha analysts.

The London-headquartered lender also announced a further $1.3 billion share buyback that it said would start imminently.

Shares lost 4% during Thursday afternoon trading.