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.
LONDON/SINGAPORE: Standard Chartered Plc is bracing for the impact 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 buy back of shares, will also no longer meet a key profitability goal for next year, the London-based bank said.
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