StanChart to miss returns target as coronavirus bites

摘要

standard chartered said it is likely to miss its profitability and income growth targets in the short term as it faces headwinds from low interest rates and the coronavirus outbreak, and recorded a 25% dip in profit last quarter. Chief executive Bill Winters in February 2019 outlined his second major turnaround plan since he took up the reins in 2015, including plans to cut US$700m in annual costs, exit smaller businesses and restructure operations in 21 countries.