Company bosses love a bit of flattery, and Bill Winters could sorely use some following a bruising few years at the helm of Standard Chartered, says CGAThompson:
Standard Chartered announced a $1 billion share buyback on April 30 after it reported a 5 percent year-on-year increase in pre-tax profit to $1.24 billion, on operating income which declined by 2 percent to $3.8 billion.
Excluding one-off charges, the Asia-focused lender made a 9.6 return on tangible equity for the quarter, up from 8.6 percent over the same period a year ago. The bank reported a common equity Tier 1 capital ratio of 13.9 percent, down 30 basis points from the end of 2018.
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