Standard Chartered reported a flat $1.71 billion net profit for the second quarter, matching the previous year but exceeding the analyst estimate of $1.48 billion. The London‑based bank cited strong performance in its wealth and retail banking segment, which grew 76% to $1.01 billion.

Credit impairments rose to $150 million, up from $119 million a year earlier, while corporate and investment banking profits slipped 7.4% to $1.51 billion. Despite the mixed results, the bank announced a share buyback program of up to $1.0 billion.

In May, CEO Bill Winters unveiled new financial targets, including a plan to cut support staff by more than 15% by 2030 and a goal for return on tangible equity to exceed 15% in 2028. These measures aim to strengthen profitability and shareholder value.

The move underscores Standard Chartered’s focus on balancing growth in wealth banking with disciplined capital deployment and cost control.