StanChart reports 18% rise in annual profit, roughly in line with estimates

STANDARD Chartered reported on Friday its annual profit rose 18 per cent, roughly in line with analysts’ estimates, on strong performance of its wealth and markets business.

The London-based bank reported pretax profit for 2024 of US$6 billion, up from US$5.1 billion the year before and slightly below the US$6.2 billion average of analysts’ forecasts as compiled by the bank.

StanChart also announced share buybacks worth US$1.5 billion. REUTERS