Business · Companies · 17 hrs ago

Standard Chartered aims to sustain earnings growth amid global tensions

Standard Chartered aims to sustain earnings growth amid global tensions

Standard Chartered says it expects to sustain strong earnings growth as global finance changes.

The London-based bank sees rising wealth in Asia and the Middle East as an opportunity.

CEO Bill Winters also pointed to growing demand for cross-border financial services and the digitisation of money.

The bank has moved away from traditional lending towards fee-generating services, including trade finance, capital markets advice and wealth management.

These changes matter because geopolitical tensions are reshaping global finance, creating demand for new ways to move and manage money.

Winters said the bank will seek to build on these trends, but gave no specific forecast or timetable.

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Bill WintersStandard Chartered group chief executive
We’re not a conventional investment bank, nor are we a conventional local universal bank or a conventional commercial bank.
via SCMP