Standard Chartered plans to target $200 billion in new assets and aims for double-digit income growth from its wealth business over the next five years. The bank will focus on serving wealthy Chinese and Indian clients with offshore assets and cross-border needs.

Standard Chartered has announced its strategy to increase business growth, with targets to acquire US$200 billion in net new money (NNM) over the next five years. The strategy was announced at the bank’s Affluent Investor Seminar on Dec 3. The bank’s strategy includes double-digit growth in Wealth Solutions income.