Standard Chartered Group plans to reduce more than 15% of its support roles and raise its return targets over the next four years, indicating a growing trend among banks leveraging artificial intelligence to enhance efficiency.

The bank announced on Tuesday that it aims to increase revenue per employee by approximately 20% by 2028 through workforce optimization and efficiency gains. Additionally, it plans to cut over 15% of corporate function positions by 2030, primarily targeting back-office support roles.

Standard Chartered has also set new return objectives, including raising its tangible return on equity by 3 percentage points to 15% by 2028, with a further increase to 18% by 2030. The bank also strives to reduce its cost-to-income ratio to 57% by 2028.

The bank initiated an event in Hong Kong on Tuesday for analysts and investors, where CEO Bill Winters and the management team will discuss medium-term priorities, growth initiatives, and the financial framework.

Winters stated in a release, "We are investing in capabilities that will strengthen our competitive advantage, drive sustainable growth, and deliver higher-quality returns over the long term, while setting clear targets."

Standard Chartered noted that the staff reductions will be facilitated by expanding automation, advanced analytics, and the large-scale practical application of artificial intelligence to streamline processes, improve decision-making, and enhance both customer service and internal efficiency.