Standard Chartered Profit Up 18% in 2023, Announces Buyback and Dividend Boost on Hong Kong and Wealth Management Growth
- Standard Chartered's 2023 net profit rose 18% to $3.47B, beating estimates
- Announced $1B share buyback and 50% higher dividend per share
- Hong Kong remains core market; CEO sees strong continued growth
- Bad debt charges fell 37% thanks to lower China real estate provisions
- Wealth management and interest income drove profits up significantly