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

By Tyler Davies
27 Feb 2020

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.

Reporting its latest financial results on Thursday, Standard Charteredsaid that the spread of Covid-19 from mainland China was “affecting many of [its] key markets” in Asia.

The bank said that a number of challenges, including the coronavirus outbreak, meant that its income growth was likely ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial