Goldman Sachs stated that Stanchart has relatively low upside potential. Analysts Gurpreet Singh Sahi and Wing Huang believe that the growth rate of the bank's non-interest income has reached its highest level since 2018, but the market conditions may be worse than expected, bringing certain risks. Stanchart's structural hedging is also relatively low, and the management has issued a warning about the net interest income for 2025. The two analysts pointed out that as Stanchart begins its restructuring phase, fluctuation in reported earnings is expected, while cost-saving measures may bring pressure. However, they believe that Stanchart has narrowed the gap with its peer HSBC in terms of tangible book value. Goldman Sachs downgraded the stock rating from "buy" to "neutral".