Gold Ten Data 4 December News, Goldman Sachs released a report pointing out that Standard Chartered Group (02888.HK) valuation has caught up with HSBC Holdings, and with high expectations for non-interest income in the 2025 fiscal year, it maintains a 'neutral' rating and a target price of 95 Hong Kong dollars based on the residual income model. The report pointed out that the bank participated in Standard Chartered Bank's investor conference on December 3. The management proposed a target for 2025-2029: attracting a net increase of 200 billion US dollars in assets under management, driving double-digit growth in financial management business income. The bank expects that the compound annual growth rate of non-interest income for Standard Chartered Group in 2024-2026 will be 9%. The management expects that by 2029, the contribution of income from high net worth individuals to wealth management income will increase from less than 70% in the first nine months of 2024 to 75%.
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Goldman Sachs: Standard Chartered focuses on wealth management business and maintains a "neutral" rating
Gold Ten Data 4 December News, Goldman Sachs released a report pointing out that Standard Chartered Group (02888.HK) valuation has caught up with HSBC Holdings, and with high expectations for non-interest income in the 2025 fiscal year, it maintains a 'neutral' rating and a target price of 95 Hong Kong dollars based on the residual income model. The report pointed out that the bank participated in Standard Chartered Bank's investor conference on December 3. The management proposed a target for 2025-2029: attracting a net increase of 200 billion US dollars in assets under management, driving double-digit growth in financial management business income. The bank expects that the compound annual growth rate of non-interest income for Standard Chartered Group in 2024-2026 will be 9%. The management expects that by 2029, the contribution of income from high net worth individuals to wealth management income will increase from less than 70% in the first nine months of 2024 to 75%.