HONG KONG: Standard Chartered (StanChart) booked a robust 46% jump in annual profit, but warned a key earnings target would take longer to meet, as the coronavirus epidemic adds to headwinds in its main markets of China and Hong Kong.
The epidemic could lead to a rise in bad loans, it said, but did not provide specific guidance on the potential impact. Rival HSBC Holdings said last week it could face loan losses of up to US$600mil if the virus outbreak persists into the second half of the year.
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