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Standard Chartered announces $500m buyback as profits rise
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fnlondon.comStandard Chartered's second-quarter profit rose 6.5% compared with the same period a year earlier, thanks to stronger interest income, as it announced a new $500m share buyback program.
The Asia-focused bank posted second-quarter underlying pretax profit of $1.32bn on 29 July. Operating income rose 6.5% to $3.93bn, driven by higher net-interest income as central banks increased interest rates aggressively to fight elevated inflation.
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