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Standard Chartered: Standard Chartered's 2025 Results: A Strong Performance Across Business Segments

Standard Chartered's 2025 results demonstrate the bank's resilience and strategy execution, with a record annual income of $20.9 billion, up 8% year-on-year. The bank's underlying return on tangible equity (RoTE) was 14.7%, exceeding its 2026 target a year early. Earnings per share (EPS) came in at $0.2741, slightly below analyst estimates of $0.2768. The bank's net interest income (NII) was $11.2 billion, up 1%, while non-NII increased 13% year-on-year, driven by strong performance in Wealth Solutions, Global Markets, and Global Banking.

STAN.L

GBp 1794.5

0.31%

A-Score: 5.5/10

Publication date: February 24, 2026

Author: Analystock.ai

šŸ“‹ Highlights
  • Record Income Growth 8% YoY increase to $20.9 billion, with non-NII surging 13% driven by Wealth Solutions (+24%), Global Markets (+12%), and Global Banking (+15%).
  • RoTE Exceeds Target 14.7% underlying return on tangible equity (vs. 12% 2026 target), including 70 bps boost from Ripple/Toss gains.
  • Wealth Segment Leadership Wealth business grew 24% with $52 billion net new money, ranking #3 in Asia with $447 billion affluent AUM (14% growth).
  • Shareholder Returns $1.5 billion share buyback and 65% higher full-year dividend per share proposed, reflecting strong capital position (CET1: 14.1%).
  • Operational Efficiency Cost-to-income ratio improved to 59% (4% positive jaws), with $1.3 billion invested in "Fit for Growth" program (300+ initiatives).

Segment Performance

The bank's business segments performed well, with CIB income up 4% and WRB income up 6%. The Wealth business grew by 24%, driven by $52 billion in net new money, making it the fastest-growing wealth manager in Asia. The Ventures segment, which includes digital banks Mox and Trust Bank, has made strong progress, with Mox's customer base increasing 15% year-on-year to around 750,000 customers and Trust Bank's customer numbers up 15% year-on-year to over 1 million customers.

Capital Position and Shareholder Distributions

The bank's strong capital position allows for a $1.5 billion share buyback and a proposed full-year dividend per share up 65% year-on-year. The bank's CET1 ratio was 14.1%, and it announced a new $1.5 billion share buyback. The bank targets a statutory RoTE of greater than 12% in 2026 and expects 2026 income growth to be around the bottom end of its historical 5-7% range.

Valuation and Outlook

With a P/TBV ratio of 1.21 and a dividend yield of 1.72%, the bank's valuation appears reasonable. Analysts estimate next year's revenue growth at 5.3%. The bank's cost-to-income ratio improved to 59%, with a 4% positive income-to-cost jaws. The bank's credit costs have remained low, around 20 bps, compared to a through-the-cycle estimate of 30-35 bps. The outlook for 2026 is cautious, but no concerns are seen on the radar screen.

Standard Chartered's A-Score