StanChart Unveils $1.5 Billion Buyback as Profit Misses

Standard Chartered Plc announced a fresh $1.5 billion share buyback as it reported weaker-than-estimated fourth-quarter earnings, weeks after its share price was hit by the surprise departure of its chief financial officer.

The lender reported $1.24 billion in adjusted pretax profit for the final three months of last year, falling short of the $1.38 billion Bloomberg-compiled consensus estimate.