India, Feb. 23 -- Shares of Standard Chartered Plc were gaining around 8 percent on London Stock Exchange after the British lending major on Friday reported significantly higher pre-tax profit in its fourth quarter, while it turned around to a profit on an after-tax basis. The results reflected higher operating income, even as net interest income was weak.
Looking ahead, the company projects higher net interest income in 2024 and years ahead. The Board is further proposing 50 percent higher dividend, and announced up to $1 billion share buyback.
Bill Winters, Group Chief Executive, said, "We produced strong results in 2023.... We will now build on this success, taking action to deliver sustainably higher returns with a focus on driving in...