Standard Chartered (02888) Surges Over 4% Intraday, Reports Strong New Premium Client Growth in Greater Bay Area, Plans Further Expansion in China Market

Stock News11:21

Standard Chartered Group (02888) saw its shares rise more than 4% during the trading session. As of the time of writing, the stock was up 3.73%, trading at HK$202.8 with a turnover of HK$112 million.

According to an official WeChat post from Standard Chartered Bank, the bank recently announced the opening of its first wealth management center in the Greater Bay Area in Shenzhen, aiming to address the region's growing wealth management demands with innovative service experiences.

Wen Weicheng, Head of Wealth Management and Retail Banking at Standard Chartered Hong Kong, revealed that in the first three quarters of 2025, the bank's new cross-border premium individual clients from the mainland Greater Bay Area grew by 40% year-on-year. It is expected that establishing the first wealth management center in a mainland city within the Greater Bay Area will further strengthen the bank's wealth management footprint in the region.

Xu Zhongwei, CEO of Wealth Management and Retail Banking for Standard Chartered Group, and for ASEAN, South Asia, Greater China, and North Asia, pointed out that the number of affluent individuals in Asia has surged in recent years, becoming a significant engine for global wealth growth.

The group is heavily investing in its affluent client business, expanding its new client base at an annual rate of approximately 10%. It views China as one of its key markets and expresses strong confidence in the vast potential and long-term high-quality development of China's wealth management market.

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