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StanChart announced a $750 million share buyback, as expected by some analysts.
The bank said the improved outlook led it to raise its target of delivering a return on tangible equity of at least 7% by 2023, with its longer-term goal being a double-digit return. It now aims for a 10% return by 2024, with income to be boosted by investment in its businesses and rising interest rates.
The lender reported credit impairment charges of $263 million, versus $2.3 billion a year earlier.
