Standard Chartered to streamline, cut corporate roles in new ambitious roadmap

(Sharecast News) - 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.

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.

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.

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 - which it labelled as "disciplined workforce planning".

It will do this by scaling the use of automation, advanced analytics and artificial intelligence across the business to streamline processes, improve decision‑making and increase both client service and internal efficiency.

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.

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."