Standard Chartered launches $1bn buyback, lifts FY income target

(Sharecast News) - Standard Chartered announced the launch of a $1bn share buyback on Wednesday and lifted its full-year income target at it posted better-than-expected first-half profit. In the six months to the end of June, pre-tax profit jumped to a record $4.8bn from $4.4bn in the same period a year earlier, beating analysts' expectations of $4.5bn.

Income from Wealth Solutions rose 38% during the period, driven by strong growth in investment products. Meanwhile, income from Global Banking was 19% higher, with StanChart pointing to strong origination and capital market activity.

The bank also said it now expects year-on-year operating income growth for 2026 to be around the middle of the 5% to 7% range at constant currency, up from previous guidance for it to be closer to the bottom of the range.

Chief executive Bill Winters said: "We delivered a record first half performance in 2026, with double-digit growth in Wealth Solutions and Global Banking. Our performance demonstrates the strength of our differentiated international network and the disciplined execution of our strategy.

"Clients continue to turn to us to facilitate trade, investment and wealth flows across the world's most dynamic markets. We delivered a 17% increase in our earnings per share, and our upgraded income guidance and new share buyback of $1.0 billion reflect our confidence in the business."

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