StanChart posts first-half profit hit amid virus and Hong Kong unrest
The bank expects impairments in the second half to be lower unless economic conditions deteriorate significantly
30 July 2020 - 19:04
Hong Kong — Standard Chartered (Stanchart) on Thursday posted a 33% fall in first-half profit after credit impairment charges jumped six-fold as a result of the coronavirus pandemic, and said it would continue to keep a tight lid on costs.
The lender, however, struck a more positive tone when it came to further provisions against bad debts, saying it expects impairments in the second half to be lower unless economic conditions deteriorate significantly...
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