Update: StanChart Raises Long-Term Targets, Plans 15% Cut in Corporate Roles by 2030

MT Newswires Live05-20

(Updating to add comment by Standard Chartered CEO)

Standard Chartered (HKG:2888) aims to deliver return on tangible equity above 15% in 2028, up more than 3 percentage points from 2025, with the figure expected to reach about 18% by 2030, according to a Tuesday Hong Kong bourse filing.

The bank also plans to reduce corporate function roles by more than 15% by 2030.

"It's not cost-cutting. It's replacing in some cases lower-value human capital with the financial capital and the investment capital we're putting in," Reuters reported Tuesday, citing Standard Chartered CEO Bill Winters.

Standard Chartered targets high-teens earnings-per-share compound annual growth and income CAGR of 5% to 7% from 2025 to 2028.

The lender plans to lower its cost-to-income ratio to about 57% in 2028 from 63% in 2025.

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