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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 22 222
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