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‘ Billion of Affluent Inflows Planned by StanChart’

by Dubaiforum

Standard Chartered, a British lender, has set ambitious targets for its wealth management business after experiencing strong inflows in 2023. The bank’s affluent client base grew from 2.1 million to 2.3 million, resulting in net inflows of billion, a 50 percent increase year-on-year. This growth also contributed to a 24 percent increase in income to ,6 billion from the client segment.

Building on this success, Standard Chartered aims to attract an additional billion of net new money from affluent clients over the next three years. This represents a 19 percent increase compared to the past three years, during which the bank saw inflows of more than billion. The bank also plans to increase the number of international affluent clients from 274,000 to over 375,000 by 2026.

To achieve these goals, Standard Chartered has identified four strategic priorities to enhance its return on tangible equity (RoTE): the affluent client business, network business, mass retail business, and sustainability. Within the affluent business, the bank intends to maximize the value of its international network by establishing wealth hubs in key locations such as Hong Kong, Singapore, UAE, and Jersey. This approach aims to provide affluent clients with a global wealth proposition that leverages local expertise and offers a seamless cross-border client experience.

By focusing on these strategic priorities, Standard Chartered is positioning itself for continued growth and success in the wealth management sector.

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