HONG KONG, May 19 - Standard Chartered on Tuesday raised its medium-term profitability goal, saying it now expects to deliver over 15% return on tangible equity (ROTE) in 2028 and to build that to about 18% in 2030.
The bank said the revised target represents an increase of more than three percentage points from its 2025 position. Previously, Standard Chartered had set a tangible return target above 12% for 2026.
As part of a strategic update to investors, the Asia- and Africa-focused lender also disclosed plans to reduce roles within its corporate functions by roughly 15% by 2030. The cuts are intended to underpin an integrated operating model the bank says will improve efficiency, and will include back-office positions.
Standard Chartered noted it had more than 81,800 total full-time employees as of December 31, according to its annual report.
The strategy update follows the bank reaching earlier performance targets ahead of schedule, prompting a shift in focus to sustaining momentum after several years of restructuring. The management change in emphasis includes concentrating on higher-margin activities, such as affluent retail clients and financial institutions within its corporate and investment banking division.
"We achieved our 2026 medium-term financial targets a year earlier than planned," Bill Winters said in a statement. "We now have a more focused, streamlined and efficient organisation."
The bank framed the workforce changes and higher ROTE ambition as complementary: tightening corporate functions to create a more integrated operating model, while prioritising client segments that typically generate stronger margins. Standard Chartered positioned these moves as the next phase of growth after meeting prior targets ahead of schedule.
The update leaves attention on whether the bank can sustain the newly targeted returns and operational improvements over the coming years, and how the planned corporate-function reductions will be executed through to 2030.
Context and implications
Standard Chartered is setting a substantially higher profitability objective while committing to a material reduction in corporate-function headcount. Management tied the upgraded ROTE target to both a narrower focus on high-margin client segments and to organizational changes meant to increase efficiency.