With the latest measures, StanChart is seeking to build on a long turnaround and deliver stronger growth, even as geopolitical uncertainty clouds the outlook for some of its key markets.
Asia-Pacific banks may need to raise loan-loss provisions further if the Iran conflict drags on, as higher energy costs and weaker growth strain borrowers, analysts said.
For London-headquartered StanChart, which focuses on Asia-Pacific, the region has so far been both a risk and a revenue driver. It set aside US$190 million in precautionary provisions linked to the Middle East conflict in the first quarter.
The bank, which is also focused on Africa, hit earlier performance targets ahead of schedule, shifting attention to whether Winters can help it sustain momentum after years of restructuring.
“We achieved our 2026 medium-term financial targets a year earlier than planned,” Winters said in a statement.
“We now have a more focused, streamlined and efficient organisation.”
StanChart is underpinning its new target by keeping its focus on higher-margin businesses, including affluent retail clients and financial institutions within its corporate and investment banking division.
In the first quarter, the bank reported both its highest wealth revenue and new client money.
On Monday, the lender named Manus Costello, investor relations head and equity research veteran, as its permanent CFO, succeeding Diego De Giorgi, who resigned in February after nearly three years with the bank.
