Standard Chartered has announced a new $1.5 billion share repurchase program alongside the release of weaker-than-expected fourth-quarter results. The news comes just weeks after the unexpected departure of its chief financial officer, which had previously weighed on the bank's share price.

The lender reported adjusted pretax profit of $1.24 billion for the final three months of the year, falling short of the $1.38 billion forecast by economists. While the performance was supported by strength in its wealth management and global banking divisions, a decline in trading revenue acted as a headwind.

In a statement, Group Chief Executive Bill Winters said the company is achieving solid growth in its larger markets, adding that structural shifts in global trade and investment are playing to its unique strengths in serving clients' cross-border and high-end banking needs.

Standard Chartered indicated that the upcoming $1.5 billion share buyback is expected to reduce its CET1 ratio by approximately 58 basis points.