Standard Chartered is next bank to issue profit warning due to coronavirus effects
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
27 February 2020 - 18:09
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...
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