A woman walks past a Standard Chartered bank in London. A woman walks past a Standard Chartered bank in London.
London - Standard Chartered plans to cut between 80 and 100 retail branches in 2015 as part of its plan to save $400 million (R4.5 billion) a year to improve profitability, according to slides the Asia-focused bank released on an investor roadshow.
Standard Chartered said in the slides its retail bank's potential returns were being held back by high costs.
It had 1 248 branches at the end of June.
The bank is holding a three-day roadshow for analysts and investors to try to convince them it can revive the bank's fortunes after three profit warnings this year and several other problems. - Reuters