Standard Chartered sets ROTE targets above 15% by 2028

Standard Chartered has announced a new set of financial targets and a restructuring plan aimed at improving profitability and efficiency. The bank said it aims to achieve a return on tangible equity of more than 15 percent by 2028, with a further increase to about 18 percent by 2030. This represents a significant rise from its previous target of above 12 percent for 2026.

The Asia and Africa-focused bank unveiled the strategy after meeting its earlier medium-term financial targets ahead of schedule. Chief Executive Bill Winters stated that the organization is now more focused, streamlined, and efficient. The new goals are part of what the bank describes as the next phase of its growth.

To support these targets, Standard Chartered plans to implement a more integrated operating model. A key component is reducing corporate function roles by approximately 15 percent by 2030. These functions include various back-office positions. As of the end of last year, the bank employed more than 81,800 full-time staff globally.

The bank’s strategy continues to emphasize higher-margin business segments. This includes serving affluent retail clients and financial institutions within its corporate...