StanChart targets 5-7% growth in investment bank
London
STANDARD Chartered aims to grow revenue at its investment banking unit by a compound annual growth rate of 5 to 7 per cent in the medium term, the head of that business said on Tuesday.
The Asia, Africa and Middle East-focused lender will boost income after two years of restructuring by cross-selling to more clients in those markets and benefiting from intra-regional trade initiatives, said Simon Cooper, chief executive of corporate and institutional banking at StanChart. "We'll deliver products where we have a clear competitive strength to new and existing clients with increasingly sophisticated financial services needs," he told investors at a conference.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Coffee variety is priciest since 1970s in blow to instant brews
South Korea’s probe alleges 211.2 billion won of illegal short trades
RBNZ has limited scope to cut cash rate this year: OECD
Crypto.com wants to sponsor more sports after Formula One Miami
Philippine central bank tightens dirty money risk reporting rule
It is time to put idle cash back into the market