Standard Chartered CMD and EU Financials Update

This sales commentary focuses on Standard Chartered's ambitious 2030 ROTE targets, UK banking regulatory shifts, and growing risks in the global equity 'Momentum' factor.

Key Takeaways

• 1.Standard Chartered's 2030 ROTE target of 18% suggests a lasting growth story and conservatism in medium-term targets.
• 2.The UK ring-fencing review introduces a New Growth Allowance of up to 10% of Pillar 1 RWAs, potentially unlocking £80 billion in financing.
• 3.Global equity momentum is showing signs of concentration risk and sensitivity to rising bond yields, increasing correction risks.

Table of Contents

• WHAT IS CATCHING MY EYES IN GS RESEARCH
• TODAY'S NEWS
• BANKS
• Div FINs
• CORPORATE ACCESS EVENTS

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