StanChart posts better-than-expected Q1 profit, unveils share buyback

30th Apr 2019 07:13

(Sharecast News) - Asia-focused lender StanChart posted a 10% jump in adjusted pre-tax profits to reach $1.38bn, beating the $1.1bn anticipated by analysts at UBS and unveiled a $1.0bn share repurchase programme.Operating income over the reporting period was 1.5% higher at $3.81bn, even as operating expenses slipped by 2% to $2.4bn.The results came alongside a Tier 1 Capital ratio of 13.9% at quarter end which the lender said might reduce by 35 basis points as a result of the share buyback.-- More to follow --