Standard Chartered targets higher returns with sustainable growth and Asia wealth push

Standard Chartered ( (GB:STAN) ) just unveiled an announcement.

Standard Chartered has outlined a new sustainable growth plan aimed at becoming a leading super-connector bank for sophisticated, cross-border clients, leveraging its international network and product capabilities to deliver more diversified and durable earnings. The group targets a return on tangible equity of more than 15% by 2028 and about 18% by 2030, underpinned by high-teens earnings growth, a lower cost-to-income ratio and disciplined capital and risk management.

The bank plans to accelerate growth in its Wealth & Retail Banking franchise, especially in Asia, bringing forward its affluent-focused ambitions to 2028, while investing heavily in high-return segments and aligning parts of its Hong Kong retail portfolio with its digital bank Mox. In corporate and investment banking, Standard Chartered will prioritise higher-returning businesses such as financial institutions and consolidate leadership in renminbi, sustainable and Islamic finance, supported by workforce reductions in corporate functions and greater use of automation and artificial intelligence to improve productivity and client service.

More about Standard Chartered

Standard Chartered is a leading international banking group focused on facilitating cross-border commerce and financial services across 54 dynamic markets, with a strong presence in Asia and listings in London and Hong Kong. Its core businesses span corporate and investment banking, wealth and retail banking, and specialised areas such as sustainable finance, Islamic finance and renminbi products.

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