Movement Alert|STANCHART Rises 4.49% in Regular Trading, H1 Profit Beats Expectations with $1 Billion Buyback Announced

Market Focus
Jul 29

On July 29, STANCHART rose 4.49% in regular trading, trading at 232.4 HKD/share, with turnover of HKD 201 million.

On the news front, Standard Chartered reported H1 results with pre-tax profit of USD 4.8 billion, up 9% year-over-year, while operating revenue reached USD 11.604 billion, up 6.4% and hitting a record high. Non-interest income rose 8% to USD 5.9 billion, driven by a 38% surge in financial solutions business on strong investment product performance. The group simultaneously announced a USD 1 billion share buyback program, expected to reduce the CET1 ratio by 38 basis points, and raised its interim dividend by 66% to USD 0.204 per share. Adjusted net interest income for Q2 increased 6% on a constant currency basis to USD 2.87 billion. The combination of robust earnings growth and a significant buyback plan sent a strong shareholder return signal, propelling the stock higher and reversing earlier session weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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