Standard Chartered (STAN) Morgan Stanley European Financials Conference 2026 summary

Strategic progress and financial performance

• Exceeded 2025 targets a year early, delivering 14.7% ROTE, strong income growth, and increased dividends and buybacks.

• 2026 targets reaffirmed: over 12% ROTE, mid-single digit income growth, and broadly flat costs.

• Q1 trends remain strong in wealth and markets, with robust net new money and rebounding episodic market activity.

• No changes to 2026 guidance despite recent geopolitical events; credit quality and cost control remain stable.

• Portfolio diversity and cautious risk management underpin resilience against disruption and volatility.

Revenue opportunities and business growth

• Wealth management has delivered consistent 10% annual growth over a decade, with recent acceleration and $52 billion net new money last year.

• Strategic focus on affluent, cross-border clients and premium brand positioning in Asia supports sustainability.

• Corporate and institutional business leverages a diversified network to capture shifting global trade flows.

• Markets business sees double-digit growth in flow products, with episodic revenues stable over time.

• Technology and product expansion drive continued growth in both wealth and markets segments.

Risk management and credit exposure

• Middle East credit exposure is primarily investment grade CIB lending and low-LTV UAE mortgages, with no signs of stress.

• Private credit exposure in wealth is limited and focused on larger names, with no unusual outflows.

• Hong Kong commercial real estate exposure is limited, well-provided, and showing signs of recovery.

• Originate-to-distribute model and disciplined underwriting support balance sheet efficiency.

• Credit charge guidance of 30-35bps remains appropriate for a range of scenarios.