Stan Chart and HSBC brace for double whammy of Covid-19, HK protests

Tyler Davies

February 27, 2020 01:00 pm

Standard_Chartered_PA_575x375_270220 — A general view of the Standard Chartered building in the City of London, as more than £6 billion was wiped from the value of Standard Chartered after the banking giant was accused of hiding 250 billion US dollars (£160 billion) of transactions with the Iranian government. | Yui Mok/PA

HSBC and Standard Chartered are expecting lower profits and higher loan impairments this year due to the Covid-19 coronavirus outbreak and an economic downturn in Hong Kong.

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Tyler Davies