Standard Chartered has raised its return targets over the coming years after delivering on its 2026 ambitions a year earlier than planned, with the banking group on Tuesday unveiling plans to improve efficiency, productivity and drive further growth.<\/p>\n
The wealth management, corporate and investment banking firm said it now expects to deliver a return on tangible equity of over 15% by 2028, more than 3 percentage points higher than 2025, rising to around 18% by 2030.<\/p>\n
The company has set out new medium-term targets that also include producing an earnings per share CAGR in the high-teens and 5-7% income CAGR between 2025 and 2028.<\/p>\n
Standard Chartered said it also wants to drive productivity improvements to raise income per employee by around 20% by 2028, helped by a 15% reduction in corporate function roles by 2030 \u2013 which it labelled as “disciplined workforce planning”.<\/p>\n
It will do this by scaling the use of automation, advanced analytics and artificial intelligence across the business to streamline processes, improve decision\u2011making and increase both client service and internal efficiency.<\/p>\n
The new growth targets will be underpinned by the bank’s investments in long-term structural trends to help corporate and institutional clients “navigate a more connected, digital and increasingly complex global economy”, the bank said.<\/p>\n
Commenting on the new targets, chief executive Bill Winters said: “We are investing in the capabilities that will compound our competitive advantages and drive sustainable growth and higher quality returns over time, with clear targets in place.”<\/p>\n