Standard Chartered Lifts 2030 Earnings Target to 18%, CEO Winters Cites Hong Kong as Core

Standard Chartered has increased its earnings goal for 2030 to an 18% return on tangible equity, up from the previous target of 11.9% for 2025. CEO Bill Winters referred to Hong Kong as the bank's "home market" and a "key growth driver." The London-based institution, which specializes in emerging markets across Asia, the Middle East, and Africa, is also aiming for a 15% return by 2028. The bank plans to achieve this growth through wealth management and cross-border business, as well as a 15% cut in back-office staff via automation by 2030. Winters announced these targets at a media briefing on Tuesday, prior to an investor event in Hong Kong, highlighting the city’s significance in global trade and capital flows. Following the announcement, the bank's shares rose 2.5% to HK$201.60, outperforming the Hang Seng Index's increase of 0.4%.