Investor Presentaiton
Opening up a world of opportunity
Our Strategy
Asia
Wealth
Digital Business
Services
Financials
Digitise at scale: by unlocking investment capacity
Accelerating technology investment
Driving down our cost base
Adjusted costs
$bn
<$30bn based on
FY20 average FX rates
32.5
c.7-10%
≤31*
Delivering excellent customer
experience throughout our network
Building platforms for higher front
end productivity
We plan to:
Increase 2022 cost reduction
target by $1bn
(<$30bn based on FY20 average FX*
vs. $31bn in FEB20 Update)
CAGR increase
in investment22
2019-22
Automating our middle and back
office
Building solutions to free up office
footprint
Increase cost programme
saves to $5-5.5bn
(vs. $4.5bn in FEB20 Update)
Increase CTA to $7bn
(vs. $6bn in FEB20 Update)
Keep costs broadly stable from
2022, while increasing the proportion
of investment and technology spend
c.4-5%
CAGR decrease
in BAU costs
2019-22
c.29
Investment22
BAU costs
FX impact*
2019
2022
Medium to
long-term 20
*Note: Impact of the weakening USD at end-2020. Target of $30bn is based on average FX in FY20 (consistent with the results presented); using the average December 2020 FX rates, the target would be retranslated to <$31bn. Using average December 2020
FX rates, 2020 adjusted revenue would increase by c.$1.5bn
22
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