Standard Chartered has announced a $1 billion (£750 million) share buyback program, marking a significant commitment to returning capital to shareholders.
The move comes as the bank reported higher profits, with first-half pretax profit rising 9% to $4.38 billion compared to the same period last year.
CEO Bill Winters stated that the new shareholder returns reflect the board's confidence in the business's trajectory.
The announcement follows a period of significant restructuring for the London-listed bank, which unveiled plans earlier this year to cut approximately 7,800 jobs.
By pairing the buyback with these cost-saving measures, Standard Chartered is signaling that it believes its efficiency drive is yielding tangible financial results.
The bank also continues to invest heavily in its artificial intelligence transformation, aiming to modernize its operations while reducing its headcount.