News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

News

Standard Chartered warns of coronavirus’s impact on growth

Fallout from viral outbreak compounds existing challenges for the Asia-focused bank

Standard Chartered said the coronavirus epidemic would slow its profit growth this year, adding to the headwinds the Asia-focused bank faces from social unrest in Hong Kong and the aftermath of the trade war.

The spread of the virus “will make it more difficult for us to hit our financial targets,” chief executive Bill Winters told journalists as the bank reported earnings Thursday. In a statement, the bank said it expects “suppressed income” and additional credit losses because of the outbreak.

WSJ Logo