Income is expected to grow 5-7% annually from 2025 to 2028, with high-teens earnings per share (EPS) growth (consensus: 5.2% income growth, 17.8% EPS growth)
Return on Tangible Equity is expected to be above 15% by 2028, rising to around 18% by 2030 (consensus: 15.1% for 2028).
A cost-to-income ratio of ~57% targeted by 2028 (2025: 63%), alongside ~20% higher income per employee, and a more than 15% reduction in corporate roles by 2030.
Capital targets are unchanged, including a CET1 range of 13-14% and a payout ratio of at least 30%, while the $200bn net new money wealth target has been brought forward one year to 2028.
The shares were broadly flat in early trading.
Our view
HL view to follow.
Standard Chartered key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.