Standard Chartered announced Tuesday that it will cut more than 15 percent of its corporate functions roles by 2030 as part of a broader push to boost profitability and efficiency.
The move comes alongside new medium-term targets that include raising income per employee by around 20 percent by 2028. The bank also set a goal of achieving a 15 percent return on tangible equity in 2028, up more than three percentage points from 2025 levels, with an aim of reaching about 18 percent by 2030.
According to the lender's 2025 annual report, corporate function roles cover areas such as human resources, corporate affairs and supply chain management. Of its roughly 82,000 employees, about 52,000 work in support roles while the rest are part of its business workforce.
Chief Executive Bill Winters said the bank is focusing on long-term growth. "We are investing in the capabilities that will compound our competitive advantages and drive sustainable growth and higher quality returns over time, with clear targets in place," Winters said in a statement.
Jefferies analyst Joseph Dickerson called the targets conservatively struck and said they would support mid-teens earnings-per-share growth. "The bigger picture is that the company can clearly commit to a 5-7 percent revenue growth range given the opportunities in its footprint against a matrix of unknowns in the broader geopolitical/macro environment," Dickerson wrote in a note.
Jefferies kept its buy rating and a 2,250 price target on the bank's London-listed shares, which closed at 1,921.50. Shares listed in Hong Kong rose more than 2 percent in afternoon trading.
The announcement follows a better-than-expected 17 percent profit increase reported late last month. That gain was supported by stronger results in Wealth Solutions, Global Banking and Global Markets flow income segments. The bank also recorded a $190 million charge tied to expected losses from the Middle East conflict.
Standard Chartered has been positioning itself around growing trade links between the Middle East and Asia. Most of its revenue comes from Asia, Africa and the Middle East, with roughly 6 percent generated from the Middle East region.
Last month the bank and the International Finance Corporation, the private-sector arm of the World Bank Group, launched a risk-sharing facility to support supply chains and business growth in Africa. The arrangement will cover up to $300 million in supply chain and trade finance assets and will roll out solutions in eight markets including Ghana and Kenya.
Analysts have noted that the job reductions target back-office and support areas rather than front-line business roles. The bank has not specified exact numbers of positions affected but described the cuts as part of ongoing efforts to streamline operations.
Investors have reacted positively so far, with shares showing gains in Hong Kong after the announcement. The bank continues to emphasize opportunities in its core markets despite broader uncertainties in global trade and geopolitics.
Officials said the changes are expected to help deliver higher quality returns over the coming years while maintaining focus on key growth areas. Further details on implementation timelines are expected in upcoming updates.