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Annual Report 2025
Strategic report
02 Who we are and what we do
04 Group Chair’s statement
06 Group Chief Executive’s statement
09 Our strategy
10 Our business model
12 Key performance indicators
14 Market environment
17 Group Chief Financial Officer's review
20 Client segment reviews
32 Our people and culture
37 Stakeholder engagement
42 Group Chief Risk Officer's review
50 Non-financial and sustainability information statement
51 Viability statement
Financial review
54 Financial summary
62 Underlying versus reported results reconciliations
65 Alternative performance measures
Sustainability review
68 Chief Sustainability Officer's review
75 Our approach to sustainability
83 Sustainable finance
90 Climate
111 Nature
113 Social impact
116 Managing Environmental and Social Risk
118 Integrity, conduct and ethics
122 Sustainability governance
Contents
Directors’ report
130 Board of Directors
135 Management Team
138 Corporate governance
155 Committee reports
180 Directors’ remuneration report
207 Other statutory and regulatory disclosures
217 Statement of directors’ responsibilities
Risk review and Capital review
220 Enterprise Risk Management Framework
226 Principal risks
233 Credit Risk
277 Traded Risk
281 Liquidity and Funding Risk
286 Operational and Technology Risk
287 Environmental, Social and Governance
andReputational Risk
303 Capital review
Financial statements
310 Independent Auditor’s report
322 Financial statements
329 Notes to the financial statements
Supplementary information
436 Supplementary financial information
444 Supplementary people information
450 Supplementary sustainability information
458 Climate reporting index
466 Shareholder information
470 Glossary
Discover more
in our suite of reports
Learn more about our
clientsegments
This Annual Report is part of a wider suite ofcorporate
reportsanddisclosures.
For our full suite of 2025 disclosures visit
sc.com/financial-results and sc.com/sustainabilitylibrary
Financial reporting
• Annual Report
• Bank Report
• Pillar 3 Report
Sustainability reporting
• Sustainable Finance Impact Report
• Transition Plan
• Nature Report
• DE&I Impact Report
• Modern Slavery Statement
Read more in our Client segment review on pages 20 to 31
For more information regarding reporting measures
andterms specific to this Annual Report, seepage478
We’re a global bank connecting clients to our
differentiated network, offering growth opportunities
intheworld’s most dynamic markets.
Our strategy, which combines cross-border capabilities
and leading wealth management expertise, helps
usdeliver ourpurpose – to drive commerce and
prosperity through our unique diversity.
1 Reconciliations from underlying to reported and definitions of alternative performance measures can be found on pages 62 to 65.
2 Read more about our culture of inclusion on page 36, and about our Sustainability Aspirations on page 76.
3 Year-on-year growth in operating income and profit before tax is on a constant currency basis.
4 Senior leadership is defined as Managing Directors and Band 4 roles (including the Group Management Team).
2025 performance highlights
Return on tangible equity (RoTE)
Underlying basis
14.7%
300bps
Reported basis
11.9%
220bps
Common Equity Tier
1 ratio (CET1)
14.1%
-12bps
Above our 13-14%
targetrange
Total shareholder
return
89.0%
35.5ppt
Financial KPIs
1
Diversity and
inclusion: women
insenior roles
4
33.0%
-0.3ppt
Mobilising
sustainable
finance
$157bn
$34bn
Non-financial KPIs
2
Operating income
Underlying basis
$20,894m
6%
Reported basis
$20,942m
7%
Profit before tax
Underlying basis
$7,900m
18%
Reported basis
$6,963m
18%
Earnings per share
Underlying basis
229.7 cents
61.6 cents
Reported basis
195.4 cents
54.1 cents
Other financial measures
1,3
Tangible net asset value per ordinary share
1,730 cents
189 cents
Employee net promoter score (eNPS)
17.56
-3.9 points
Annual Report 2025 | Standard Chartered 1
Strategic report
Who we are and what we do
Total operating income
$20,894m
Underlying basis
$20,942m
Reported basis
How we serve clients
We connect corporate, institutional and affluent clients
to growth opportunities across our network.
We serve three client segments
We’ve been supporting clients
since opening our doors in Mumbai,
Kolkata and Shanghai in 1858
and we remain the ambitious,
network-driven bank we set out to
be more than 170 years ago.
Corporate & Investment Banking
Supports large corporations, development organisations,
governments, and financial institutions with risk
management, advisory and financing solutions.
Operating income
Underlying basis
$12,394m
Reported basis
$12,349m
Operating income
Underlying basis
$8,464m
Reported basis
$8,465m
Wealth & Retail Banking
Serves the local and international banking needs
of our clients across the wealth continuum with a focus
on the affluent segment, while supporting small and
medium-sized enterprises.
Central and other items
Operating income
Underlying basis: $(379)m
Reported basis
$(287)m
Operating income
Underlying basis
$415m
Reported basis
$415m
Ventures
Promotes a culture of innovation across the Group,
investing in disruptive financial technology and creating
alternative financial service business models, as well as
growing our digital banks – Mox and Trust.
Read more on our client segments on pages 20 to 31
Standard Chartered | Annual Report 20252
What makes us different
Our strength lies in the connectivity of
our markets, the diversity of our people
and the depth of our client relationships.
Where we operate
We operate in the world’s most
dynamic markets, which set the pace
for global growth and prosperity.
Our purpose and culture
Our distinctive culture has been developed in pursuit of our purpose – to drive commerce
and prosperity through our unique diversity.
We’re committed to promoting equality and inclusion, as it’s our diversity that sets us apart and helps us drive
business growth. We are guided by our valued behaviours, and our brand promise, here for good.
Our distinctive strengths, such as our expertise
in managing generational wealth, our commitment
to mobilising sustainable finance, and our innovative
approach, are just some of the qualities that set us apart.
Our strengths
Our footprint and network
We help clients do business across borders through
our network of high-growth and established markets.
Our wealth management expertise
We help generations grow and protect their wealth,
offering local and global expertise.
Our commitment to sustainable finance
We mobilise capital to deliver sustainable and inclusive
growth for our clients and the communities we call home.
Our emphasis on innovation
We scale fintechs and invest in ventures supporting
digital transformation and product development.
Read more in our business model on page 10
Our unique geographic footprint connects high-growth
and emerging markets in Asia, Africa and the Middle
East with more established economies in Europe and
the Americas, allowing us to channel capital to where
it’s needed most.
We serve clients across
54
global locations
Read more on our people and culture on pages 32 to 36
Read more in our client segments on page 20 to 31
Do the right thing Never settle Better together
Our purpose
To drive commerce and prosperity through ourunique diversity.
Valued behaviours
Annual Report 2025 | Standard Chartered 3
Strategic report