Standard Chartered announces a $1.5 billion share buyback after reporting an 18% rise in annual profit, driven by strong growth in its wealth business and markets division. The bank is focusing on its wealth management and markets business despite global growth uncertainties and divergent interest rate policies. StanChart plans to invest $1.5 billion over five years in wealth and digital platforms to accelerate income growth and returns. The bank aims to generate $200 billion of net new money from 2025 to 2029 and achieve double-digit compounded annual growth in wealth solutions income.
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