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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.