Standard Chartered Posts Lower Profit, Announces $1.5 Billion Share Buyback
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Standard Chartered posted a drop in second-quarter net profit and announced a $1.5 billion share buyback. The London-based bank said Tuesday that net profit fell 3.7% from a year earlier to $946 million for the three months ended June. Its quarterly net profit fell short of the $1.03 billion estimate in a poll of analysts by Visible Alpha.