Standard Chartered announces $1.5 billion share repurchase as quarterly profit disappoints

Standard Chartered Plc unveiled a new $1.5 billion share buyback after reporting December-quarter earnings that fell short of analyst expectations.

The bank posted adjusted pretax profit of $1.24 billion for the final three months of last year, which stood below the $1.38 billion consensus estimate compiled by Bloomberg. Results were supported by strength in its wealth and global banking divisions, though weaker trading income weighed on overall performance.

Chief Executive Officer of Standard Chartered Plc, Bill Winters, said in a statement, “We are seeing robust growth in our larger markets, and structural shifts in global trade and investment play to our distinctive strengths serving our clients’ cross-border and affluent banking needs.”

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The results came weeks after the lender’s shares were rattled by the sudden departure of Chief Financial Officer Diego De Giorgi, who left on February 10 to join Apollo Global Management Inc.

De Giorgi had been at the bank for two years and was closely associated with its “Fit for Growth” cost-efficiency programme, which spans hundreds of initiatives aimed at generating savings across the business.

The bank had expected De Giorgi to be the front-runner to replace Winters, who has been CEO for 11 years now.

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His exit sparked concerns among investors, sending the stock down nearly 10% in the days following the announcement, though shares have since pared part of those losses.

Standard Chartered’s stock had risen more than 80% in 2025 before the rally stalled earlier this month.

The “Fit for Growth” programme is now entering its final year, and Winters is expected to outline the next phase of the bank’s strategy at an investor event later this year.