The bank is now intent on placing a greater emphasis on its retail banking operations and curtailing its committment to the wholesale market.
China, in particular, may hold the key. Standard Chartered has had a presence in China for over 140 years and, before too long, the bank will be in a position to offer banking services to the huge Chinese population.
Standard Chartered will also reduce the amount of capital allocated for operations in the wholesale market, where it has been less than successful.
The bank is thought to be in a good position to benefit from the expected economic recovery in emerging markets.
Take-over speculation remains rife, however, with Citigroup being seen as the most likely bidder.
2001 saw a 20% drop in profits at emerging markets bank Standard Chartered. The bank is badly in need to a new strategic direction and on Friday it announced its plans to refocus.
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