Trending: Standard Chartered to Return Over $5 Billion to Shareholders by 2024

0927 GMT - Standard Chartered PLC is among the most mentioned companies across news items over the past five hours, according to Factiva data, after the bank posted a rise in first-quarter net profit alongside a mixed forecast for the year and said that it plans to return over $5 billion to shareholders by 2024. The Asia-focused bank reported a net profit of $1.16 billion for the quarter compared with $1.06 billion for the same period in 2022. StanChart said that it expects 2023 income to rise around 10%--the top end of its 8%-10% range--and for net interest margin of around 170 basis points. The updated 2023 outlook is mixed with revenue forecasts pushed to the top end of the range but net interest margin expectations lowered, Citi said in a note. Jefferies analysts Joseph Dickerson and associate Aqil Taiyeb wrote that the first-quarter results and guides imply a better mix of revenue drivers than before. Shares in London are trading 0.3% higher having been down as much as 1.2% earlier in the session. Dow Jones & Co. owns Factiva. (ian.walker@wsj.com.)

(END) Dow Jones Newswires

April 26, 2023 05:42 ET (09:42 GMT)

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