LONDON (dpa-AFX) - British lending major Standard Chartered Plc (SCBFF.PK, STAC.L, STAN.L) on Tuesday announced its plan to reduce corporate functions roles of more than 15 percent by 2030 as it unveiled its sustainable medium-term profitability growth plan.
Regarding its growth plan, Standard Chartered said it achieved 2026 medium-term financial targets a year earlier than planned.
The firm now estimates to invest ahead of long-term trends to maintain strong growth, boost productivity, and further improve the quality of earnings.
Bill Winters, Group Chief Executive, said, 'Our strategy is grounded in a simple belief: the world is becoming more connected, more complex and more cross-border. Clients need a bank that can help them navigate that environment with confidence... 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.'
The bank's new medium-term targets include plan to deliver a >15 percent RoTE in 2028, a more than 3 percentage point uplift from 2025, and building to around 18 percent in 2030.
Further, it aims to produce a high-teens EPS CAGR and 5-7 percent income CAGR from 2025-2028, among others.
In Hong Kong, Standard Chartered shares were gaining around 2.2%, trading at HK$201.000.
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