Standard Chartered launched a new strategic plan to significantly increase profitability. The bank targets a return on tangible equity exceeding 15% by 2028. This target rises to approximately 18% by 2030. The initiative follows the bank reaching its 2026 financial goals one year ahead of schedule.
The lender will cut more than 15% of corporate and back-office roles by 2030. This reduction impacts over 7,000 jobs. Standard Chartered is accelerating the use of artificial intelligence and automation to streamline operations. CEO Bill Winters stated the plan reallocates capital toward technology and higher-value activities.