London  — Standard Chartered is bracing for the effects of the coronavirus outbreak and a weakened Hong Kong economy on the Asia-focused lender’s business.

The slump in Asia, which accounts for the majority of the bank’s earnings, will contribute to 2020 revenue growth falling short of its target, according to a statement on Thursday. Standard Chartered, which also announced a buyback of shares, will also no longer meet a key profitability goal for next year, the London-based bank said...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now