Standard Chartered PLC Q1 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Thomas Andrew John Rayner - Numis Securities Limited, Research Division - Analyst : Bill, Andy, well done on the figures. I think the general thrust I'm picking up from the questions is people may be thinking you're being too cautious perhaps on some of your guidance here. Consensus revenue growth is currently 6% this year. If we just factor in the 140 NIM guidance, I think that adds 4% to that figure. And clearly, your very strong Q1 Financial Markets is in the bag. And I think, Andy, you said April was holding up well compared to prior year as well. So no signs that, that is going into reverse. So I'm just wondering, is this just a general level of caution, which I think is to be expected maybe given the environment? Or is there anything specific that you're seeing that has markedly deteriorated perhaps the speed of which you expect Hong Kong to reopen or anything like that? And I guess we could knock this on to your RoTE guidance as well. So I know you're saying 10% to 2024 or earlier. I'm just wondering how confident you are that maybe 10% can be achieved in 2023. Is that something that comment is meant to hint at?