The bank based here in London is one of the first global banks to announce plans to cut thousands of personnel with a reason AI to increase performance efficiency.

On January 19, Standard Chattered said to cut 15% of personnel at business functions to 2030. According to estimates of Reuters, the plan is equivalent to more than 7,000 jobs in the total of over 52,000 personnel belonging to this group.

The bank has nearly 82,000 employees worldwide. CEO Standard Chantered, Mr. Bill Winters said the cut process would be driven by automation and AI applications, at the same time a personnel division would be retrained.

According to Winters, the most affected positions are located at the bank's back-to-back operations centers in Chennai, Bangalore, Kuala Lumpur and Warsaw.

The elaborate plan of the machine and the goal of increasing profits for the shareholders was released in the new strategy of the bank, marking the final phase of the effort that lasted almost a decade to convert himself from a potential capture goal to a secure profit-making bank.

Leo of Standard Bank Chatered at headquarters in London (English). Image: Reuters

The stock was sealed in Hong Kong by Standard Chantered rose by 2.5% in the morning session 19/5, while the Cave Seng index passed.

Many global corporations are promoting AI applications to enhance performance efficiency. The world's banks also run to integrate advanced AI models and deal with increased cyber security risks.

In the new strategy, Standard Chatered set the goal of birthing on the visible capital (ROTE) above 15% in 2028, 3% higher than in 2025 and heading about 18% in 2030, which surpassed the forecast of several analysts.

Standard Chatered hopes to promote growth by focusing on more profitable sections such as wealthy personal customers and financial institutions belonging to the business and investment bank.

Standard Chatered still pursues a stronger growth goal despite the political unrest that is shadowing the prospects at some key markets. According to analysts, the Asian Pacific area banks may have to increase their backup quotes if Iran conflicts persist, in the context of escalating energy prices and increasing decline pressure on the customer.

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