Standard Chartered is planning its first share buyback in two decades, in a signal of its return to health after a multiyear restructuring and the settlement of a sanctions probe.

The Asia-focused lender said it would start a $1bn buyback program “imminently”. The purchase plan reflects “confidence in our ability to execute the strategy and create long-term shareholder value,” chief executive Bill Winters said. Its last share buyback was in 2002 when it repurchased preference shares.