Standard Chartered's chief executive has apologized after describing certain employees as 'lower value human capital' in what appears to have been internal company communications.

The comments from the CEO of the London-based international bank sparked criticism for their characterization of workers. Details about the specific context in which the remarks were made have not been fully disclosed.

In response to the controversy, the Standard Chartered boss said he values all colleagues and expressed commitment to helping employees navigate organizational changes. The apology came as the bank faces scrutiny over its approach to workforce management.

Standard Chartered, which operates primarily in Asia, Africa and the Middle East, has been undergoing various restructuring efforts in recent years. The bank has not provided additional details about what prompted the CEO's original comments or the circumstances surrounding them.

The incident highlights ongoing tensions in the banking sector as financial institutions balance cost-cutting measures with employee relations amid changing market conditions.