London · Delayed Price · Currency is GBP · Price in GBX Standard Chartered Earnings Call Transcripts
Fiscal Year 2026
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Management reaffirmed 2026 targets after exceeding prior goals early, citing strong Q1 trends in wealth and markets. Cost discipline, capital-light growth, and digital innovation remain priorities, with no change to guidance despite geopolitical risks. Further strategic updates are expected at the upcoming Capital Markets Day.
Fiscal Year 2025
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Record income and RoTE exceeded targets a year early, driven by strong growth in Wealth, Global Markets, and Global Banking. 2026 guidance targets income growth at the low end of the 5–7% range, flat NII, and over 12% statutory RoTE, with robust capital returns and ongoing investment in growth.
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Strong earnings and strategic progress were highlighted, with robust growth in wealth and CIB segments. Investments in RMs and technology are driving market share gains, while compliance and risk management remain priorities. Supply chain shifts and digital innovation are creating new opportunities, and deposit growth outpaces peers despite ongoing tax challenges.
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Secular trends in Asia and a focus on affluent clients drive strong wealth management and cross-border growth, with digital innovation and network strength providing competitive advantages. Cost discipline, capital returns, and regional pivots to wealth underpin sustainable performance, while M&A remains a low priority.
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Q3 saw 9% profit before tax growth and 5% income growth, led by Wealth Solutions and Global Banking. 2025 income growth guidance was raised to the upper end of 5%-7%, with RoTE expected to reach 13% a year early. CET1 ratio improved to 14.2%.
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The session highlighted a disciplined approach to cost and capital management, with a focus on profitable growth, IT simplification, and strong asset quality. Capital returns and dividend policy will be clarified at the upcoming Capital Market Day, while wealth management and core banking remain key growth drivers.
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Q2 2025 saw 15% income growth year-on-year, strong gains in Global Markets and Wealth Solutions, and a 34% rise in profit before tax. A $1.3 billion share buyback was announced, with upgraded 2025 income guidance and continued investment in digital assets and transformation.
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Corporate and investment banking and wealth management for affluent clients are driving growth, supported by digital innovation and a global network. NII faces headwinds in 2025, but non-NII income remains robust. Over $8 billion in capital returns is targeted for 2024–2026.
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A disciplined client and capital strategy, digital innovation, and network expansion underpin 5%-7% targeted income growth, with a focus on high-returning FI and multinational clients. Sustainable finance and transaction banking are key growth drivers, supported by ongoing RWA optimization and cost control.
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Q1 2025 delivered strong income and EPS growth, led by wealth and global markets, with robust capital and credit quality. Guidance remains unchanged despite tariff and macro risks, and strategic investments continue in growth areas.
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Interest rate declines and volatility are expected to challenge net interest income growth in 2024, while wealth management and wholesale banking benefit from secular trends and market volatility. Strategic cost management, AI investment, and a focus on affluent clients and financial institutions are driving efficiency and credit quality.
Fiscal Year 2024
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Record income and double-digit growth in key segments drove a 160 bps ROTE increase to 11.7% in 2024. Shareholder distributions reached $4.9 billion, with a new $1.5 billion buyback and a 37% dividend hike. Outlook remains strong, with disciplined cost management and strategic investments supporting future growth.
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A $1.5 billion investment will drive growth in affluent wealth management, targeting $200 billion in net new money and double-digit income CAGR by 2029. Strategic focus includes client up-tiering, digital innovation, and expanding international client segments, with strong diversification and stable returns.
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A major investment in wealth management and technology aims to drive 5%-7% revenue CAGR, while cost transformation targets $12 billion or less in expenses by 2026. Credit growth and market volatility are key performance drivers, with a focus on higher-return activities and efficient capital deployment.
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Q3 2024 delivered 12% income and 41% profit growth, led by Wealth Solutions and Global Markets. 2024 income growth guidance was upgraded to ~10%, with a raised 2026 ROTE target and $8B+ shareholder distributions planned.
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Net interest income is expected at the lower end of guidance due to rate cuts, but credit quality remains stable and strategic cost and capital initiatives are on track. Wealth management and CIB are delivering strong growth, with digital ventures nearing breakeven.
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Q2 2024 saw 7% income growth and a 15% rise in underlying profit before tax, with strong Wealth Solutions and cross-border banking performance. Guidance for 2024 income growth was upgraded above 7%, and a $1.5 billion share buyback was announced, reflecting robust capital strength.
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Net interest income and loan growth remain on track, with strong performance in wealth management and a robust banking pipeline. The Fit for Growth program is driving transformation and cost discipline, while capital return and risk management are balanced with growth ambitions.